NCLT Mumbai approves the final base resolution plan for Kratos Energy & Infrastructure Ltd. under the pre-packaged insolvency resolution process.
The plan involves a reverse merger with Lord's Mark Industries and provides 100% payment to operational creditors excluding disputed SEBI claims.
SEBI's objections regarding the company's eligibility as a financial service provider were overruled by the tribunal.
The resolution includes Rs.331.45 lakh total payments to creditors and extinguishes promoter shareholding.