The National Company Law Tribunal (NCLT) has approved the Rs 55.6 crore resolution plan for Universal Buildwell Private Limited submitted byUniversal Aura Welfare Association, Universal Greens Buyers Association and Universal Business Park Owners Association, marking a significant step in the corporate insolvency resolution process (CIRP) that began in 2018. The resolution plan has been approved by the committee of creditors with 70.44% votes share.
Key Highlights of the Resolution Plan:
- Revival of Projects: The resolution plan focuses on reviving three projects— Universal Aura, Universal Greens, and Universal Business Park—while proposing the liquidation of five other projects, including Universal…
