 "Oberoi Realty")
On the effective date, the company would also subscribe to 100 per cent equity share capital of NLRPL. | Photo: Shutterstock
Oberoi Realty on Monday said the National Company Law Tribunal has approved its resolution plan for Nirmal Lifestyle Realty, and it will pay Rs 230 crore to the creditors of the bankrupt firm.
In a regulatory filing, Oberoi Realty said the NCLT Mumbai bench issued an order on August 9, 2024, approving the resolution plan submitted by the company in relation to the Corporate Insolvency Resolution Process (CIRP) of Nirmal Lifestyle Realty Pvt Ltd (NLRPL).
The NLRPL holds development rights with respect to land measuring about 20,262.40 square metres…
