LI NETWORK
National Company Law Tribunal bench headed by BSV Prakash Kumar approved NIIL Infrastructures resolution plan of Rs 103 crore.
NCLT has observed resolution plan for NIIL Infrastructures provides no lay off for the workmen of the debt-laden company and for the full and final discharge of their dues for the period of 24 months preceding the insolvency commencement date.
Appointing Nisha Malpani as the Resolution Professional (RP) NCLT Delhi in March 2018, admitted resolution plan for NIIL Infrastructures under the Insolvency and Bankruptcy Code.
Passing the order Bench said, “There appears to be no discrimination in the resolution plan in respective class of creditors as the same treatment is provided to similarly situated each class of creditors”.
