The National Company Law Tribunal (NCLT), Hyderabad Bench, has approved the resolution plan for Leo Meridian Infrastructure Projects & Hotels Ltd. (Corporate Debtor) submitted by Jalavihar Entertainment Private Limited Consortium (JEPL Consortium/SRA). The plan, amounting to ₹237 crores, was approved by the Committee of Creditors (CoC) with a 100% voting share.
Background:
The Corporate Insolvency Resolution Process (CIRP) against Leo Meridian Infrastructure Projects & Hotels Ltd. was initiated on April 9, 2019, following a petition filed by Andhra Bank (now Union Bank of India) under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The company, engaged in infrastructure and hospitality projects, had…
