Nirmal Lifestyle NCLT Approves Mantra Properties Resolution Plan

NCLT Mumbai approves resolution plan by Mantra Properties for Nirmal Lifestyle, valued at ₹215.61 crore plus CIRP costs.
Plan provides 100% recovery for financial creditors via 12% and 2% revenue share options, and offers flat delivery or refunds to homebuyers.
Resolution includes settlement with ex-promoter Dharmesh Jain and addresses multiple stakeholder IAs through consent terms and undertakings.
Corporate Debtor was registered as an MSME during CIRP, enabling ex-promoter consortium participation in the resolution process.