NCLT Approves Evonith Consortium's Indrajit Power Resolution Plan

NCLT Mumbai approves a ₹231.9 crore resolution plan by Evonith Consortium for insolvent power generator Indrajit Power Pvt Ltd.
The plan was approved by 99.71% of the Committee of Creditors and provides for full payment of CIRP costs and operational creditors.
Secured financial creditors will receive ₹224.5 crore against admitted claims of ₹482.67 crore, with debts novated to the resolution applicant.
The order grants a clean slate, extinguishing all pre-CIRP claims not part of the plan under Section 32A of the IBC.