Key Event and Approval Details
The Hon'ble National Company Law Tribunal, Kolkata Bench (Court-I) has approved the Resolution Plan submitted by Standard Capital Markets Limited for the Corporate Insolvency Resolution Process of Paymark Payment Technologies & Services Private Limited. The approval was granted vide Order pronounced on 08 September 2026 in I.A. (IBC) (PLAN) No. 02/KB/2026 in CP (IB) No. 121/KB/2024 under Section 31 of the Insolvency and Bankruptcy Code, 2016.
Effective Date and Communication
The approved Resolution Plan has become effective from 08 September 2026, being the date of the NCLT order. The company received communication regarding this approval from the Resolution Professional of the Corporate Debtor on 17 September 2026.
Implementation and Next Steps
The company describes this as a significant milestone in its resolution and investment activities and states that it shall proceed with the implementation of the approved Resolution Plan in accordance with the terms and conditions thereof and the directions contained in the NCLT order.