₹200 Crore Future Capital Infusion Separate from Creditor Settlement under Resolution Plan: NCLT [Read...
NCLT approved Hind Agro resolution plan, distinguishing ₹200 crore future infusion from ₹95 crore creditor settlementSummary
The National Company Law Tribunal (NCLT) Allahabad Bench approved the resolution plan for Hind Agro Industries submitted by GSW Enterprises after the Committee of Creditors gave it 87.54 percent support. The plan earmarked ₹95 crore for settling creditors claims and proposed an additional ₹200 crore to be infused over five years for capital expenditure and working capital.
The Tribunal clarified that the future ₹200 crore infusion is separate from the creditor settlement amount, noting that only ₹95 crore constitutes the actual payment obligation under the plan. It confirmed that the plan meets the requirements of Sections 29A, 30(2) and 31 of the IBC and is commercially viable and capable of ensuring the successful revival of Hind Agro Industries.
(Source：Taxscan)