The National Company Law Tribunal (NCLT), Mumbai bench has approved the resolution plan submitted by Amphitrite Subsea Private Limited for the revival of Dunnimaa Engineers and Divers Enterprises Private Limited, which was undergoing Corporate Insolvency Resolution Process (CIRP) since November 2022.
The CIRP was initiated on 24.11.2022 by Omkara Asset Reconstruction Private Limited, the Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). Kamal Rajkumar Sharma was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional (RP).
During the process, the RP faced significant delays in obtaining necessary information from the suspended board…