NCLT Chennai approves a ₹1.94 crore repayment plan for personal guarantor A. Dominic Savio of Oceanic Edibles International Ltd.
The plan was approved by creditors with an 80.27% majority, leading to a waiver of over ₹452 crore in admitted claims.
Funds from unsecured loans will be distributed to State Bank of India, Central Bank of India, and CFM Asset Reconstruction.
The Resolution Professional is directed to supervise the plan's implementation and complete disbursement within 14 days.