NCLT Indore approves Prakash Asphaltings' resolution plan for Shri Ram Switchgears Ltd., providing ₹19.88 crore against admitted claims of ₹70.72 crore.
The plan was unanimously approved by CoC with 100% voting share after reconsideration to address third-party security valuation issues.
Successful Resolution Applicant proposes 64.1% recovery for secured financial creditors and full payment for workmen and employees.
The order grants specific reliefs and concessions under IBC Section 31, binding all stakeholders and ending the moratorium.