NCLT Chandigarh approves Mr. Rohit Bindlish's Rs 1.9 crore resolution plan for Delcray Cables under IBC.
Plan provides 11.86% recovery for Punjab National Bank's Rs 12.06 crore claim and partial payment to operational creditors.
Resolution includes payment of CIRP costs Rs 22.9 lakh and addresses belated claim from Mercedes-Benz Financial Services.
Tribunal directs all pre-CIRP claims extinguished per Supreme Court precedent, ensuring clean slate for new management.