The National Company Law Tribunal (NCLT), Mumbai Bench, has approved a resolution plan worth ₹145.26 crore for the insolvent Indo Global Soft Solutions and Technologies Private Limited, bringing closure to a corporate insolvency resolution process (CIRP) that spanned over three years and faced multiple legal hurdles.
The plan, submitted by Ashdan Properties Private Limited, a stressed asset platform part of the Solitaire Group, was approved by the Committee of Creditors (CoC) with a 100% voting share. The tribunal’s order, pronounced by a bench comprising Member (Technical) Shri Anil Raj Chellan and Member (Judicial) Shri K. R. Saji Kumar, paves the way for the revival of the corporate debtor.
A Long-Drawn Resolution…