NCLT Ahmedabad approves the resolution plan for Amul Industries Pvt Ltd submitted by Sandeep Vadodaria consortium with a total fund infusion of Rs 29.00 crores.
The plan provides Rs 7.20 crores (50.54%) for workmen's dues and Rs 2.18 crores (100%) for EPFO claims against admitted claims of Rs 161.49 crores.
The CoC approved the plan with 68.18% voting share, and all claims against the corporate debtor except those in the plan stand extinguished.
A monitoring committee is constituted to supervise plan implementation, and the moratorium under Section 14 of IBC ceases from the order date.