The appeals were filed against the order dated 01.04.2025 passed by the National Company Law Tribunal (NCLT), Mumbai Bench, Court – I allowing I.A. Plan 11/2025 filed by Pulkit Gupta, Resolution Professional (RP) of Vadaraj Cement Ltd. and approving the resolution plan submitted by Nuvoco Vistas Corporation Limited.
CIRP was initiated against Vadraj Cement Limited on 02.02.2024 based on an application filed by Oriental Bank of Commerce (now Punjab National Bank) under Section 7 of IBC.
Masyc Projects Private Limited filed a claim of ₹16,75,11,300/-, which was admitted as an operational debt to the tune of ₹16,72,07,044/-.
Chotubhai Ramubhai Patel filed a claim of ₹2,99,87,605/- as an operational creditor.
Tushar Engineering filed a claim of ₹1,09,74,486/- as an operational creditor.
Nuvoco Vistas Corporation Limited submitted a resolution plan that was approved by the CoC with 100% voting shares on 01.04.2025.
The approved resolution plan proposed NIL payment to operational creditors (other than employees and government dues).
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CIRP against Vadaraj…
A public announcement was issued by Interim…
The appeals were filed against the order dated 01.04.2025 passed by the National Company Law Tribunal (NCLT), Mumbai Bench, Court – I allowing I.A. Plan 11/2025 filed by Pulkit Gupta, Resolution Professional (RP) of Vadaraj Cement Ltd. and approving the resolution plan submitted by Nuvoco Vistas Corporation Limited.
CIRP was initiated against Vadraj Cement Limited on 02.02.2024 based on an application filed by Oriental Bank of Commerce (now Punjab National Bank) under Section 7 of IBC.
Masyc Projects Private Limited filed a claim of ₹16,75,11,300/-, which was admitted as an operational debt to the tune of ₹16,72,07,044/-.
Chotubhai Ramubhai Patel filed a claim of ₹2,99,87,605/- as an operational creditor.
Tushar Engineering filed a claim of ₹1,09,74,486/- as an operational creditor.
Nuvoco Vistas Corporation Limited submitted a resolution plan that was approved by the CoC with 100% voting shares on 01.04.2025.
The approved resolution plan proposed NIL payment to operational creditors (other than employees and government dues).
…CIRP against Vadaraj…
A public announcement was issued by Interim…