NCLT Indore Bench approves resolution plan by Indo Global Share Broking Pvt Ltd for Shree Geeta Textiles Mills under IBC.
Plan offers Rs 30.21 crore payout, providing 34.43% recovery to secured creditors and 100% payment to EPFO dues.
Resolution includes treatment of Income Tax Department's contingent claim of Rs 38.14 crore at 0.33% pro-rata basis.
Plan provides for carry forward of business losses Rs 7.38 crore and unabsorbed depreciation Rs 33.58 crore post-acquisition.