The National Company Law Tribunal (NCLT), Mumbai Bench, has approved Sagacious Capital Private Limited’s resolution plan for Reliance Innoventures Private Limited, marking the end of a protracted insolvency process.
The bench, comprising Member (Judicial) Mohan Prasad Tiwari and Member (Technical) Charanjeet Singh Gulati, sanctioned the plan in an order pronounced on Tuesday. The approval concludes a process where creditors, holding total admitted claims of approximately ₹4,236.61 crores, will receive a combined payout of ₹110.10 crores—a recovery of about 2.6% of the total admitted debt.
Breakdown of debt and payout:
According to the tribunal’s order, the admitted claims verified during the Corporate…