NCLAT sets aside Zaveri & Co's approved resolution plan for Gujarat Hydrocarbons due to material errors in the Information Memorandum and feasibility issues.
Tribunal directs recomputation of SREI's claim from ₹1,885 crore to ₹241.27 crore and recognizes Assam Company as secured creditor for ₹38.87 crore paid.
Court finds resolution plan premised on unverified SEZ de-notification without GIDC consent, rendering it unfeasible under Section 30(2) of IBC.
CIRP to recommence with fresh Expression of Interest invitation based on corrected Information Memorandum and new Resolution Professional appointment.