Nexgen Laminators Resolution Plan Approved by NCLT

NCLT Chandigarh approves Mr. Rajesh Singla's resolution plan for Nexgen Laminators with 100% CoC voting share.
Total resolution value is ₹27.20 crore, comprising ₹23.76 crore for creditors and ₹3.20 crore for personal guarantee release.
Plan provides 20.14% recovery to financial creditors and minimal payments to operational creditors as per IBC waterfall.
The order includes standard IBC reliefs extinguishing all pre-CIRP claims and liabilities against the corporate debtor.