NCLT Mumbai formally approved the resolution plan for Nirmal Lifestyle (Mulund) Pvt Ltd, ending years of project delay for homebuyers.
Mantra Properties' plan secured 100% Committee of Creditors approval, addressing approximately INR 1,491 crore debt.
Resolution safeguards 234 homebuyers of the Nirmal Olympia project, despite their no formal CIRP standing.
InCorp Restructuring Services LLP, led by RP Amit Karia, facilitated the deal; principal lenders include Beacon Trusteeship (Edelweiss ARC) and ACRE.