NCLT passes Oberoi Realty's resolution plan for Nirmal Lifestyle Realty

Quick Summary:

In a regulatory filing, Oberoi Realty said the NCLT Mumbai bench issued an order on August 9, 2024, approving the resolution plan submitted by the company in relation to the Corporate Insolvency Resolution Process (CIRP) of Nirmal Lifestyle Realty Pvt Ltd (NLRPL).

Oberoi Realty on Monday said the National Company Law Tribunal has approved its resolution plan for Nirmal Lifestyle Realty, and it will pay Rs 230 crore to the creditors of the bankrupt firm.

The NLRPL holds development rights with respect to land measuring about 20,262.40 square metres at Mulund West, Mumbai.

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Category: BusinessFinance

Markets: India

Topics: NCLT Oberoi Realty's resolution plan Nirmal lifestyle realty Oberoi realty Oberoi Realty's resolution plan

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Article Type: News Report

Published On: 2024-08-12 @ 21:44:06 (9 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

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News ID: 22037733

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