NCLT Mumbai approves resolution plan by Vraj BVG Infrasheltors LLP for New Haven Engineering Co. Private Limited with total plan value of ₹24.41 crore.
Plan provides 100% payment to CIRP costs, ₹16.38 crore to secured financial creditor Karnavati Finance with 1% equity, and minimal payments to operational creditors.
Resolution process initiated on 11 April 2025 after petition by Karnavati Finance, with CoC approving plan by 100% vote share on 8 December 2025.
Corporate Debtor's fair value assessed at ₹23.47 crore, liquidation value at ₹18.10 crore, with plan offering better recovery than liquidation.