The Mumbai Bench of the National Company Law Tribunal (NCLT) has approved a resolution plan, bringing the corporate insolvency resolution process to a close after it received unanimous approval from the committee of creditors.
The order relates to Latakisan Construction Private Limited, in respect of which an application was filed by the Resolution Professional seeking approval of the resolution plan under Section 31 of the Insolvency and Bankruptcy Code, 2016. The resolution plan had been approved with 100 per cent voting share at the 12th meeting of the committee of creditors held in November 2024.
The corporate insolvency resolution process was initiated pursuant to an order passed in June 2023. Following the commencement of…