Hon'ble NCLT approves the Resolution Plan of MBL Infrastructures

India, Aug. 19 -- Roads and Highways constructor, MBL Infrastructures Limited said that, "Hon'ble NCLT, Kolkata Bench has approved the Resolution Plan of the company under Insolvency & Bankruptcy Code (IBC), 2016 with the support of 78.50 per cent majority of Committee of Creditors by order dated 18.04.2018," in a filing to Bombay Stock Exchange.

As per the company, some banks had preferred appeals against the said order dated 18.04.2018. The Hon'ble NCLAT has dismissed these appeals by order dated 16.08.2019.

As per the BSE report, the Hon'ble NCLAT by order dated 16.08.2019 has, inter-alia, said, "As the 'Committee of Creditors', by majority voting share of 78.50 per cent, has approved the plan after taking into consideration the techn...