CoC clears resolution plan for Sujana Universal, awaits NCLT nod

V Rishi Kumar | | Updated on: Sep 28, 2020

The Committee of Creditors of Sujana Universal Industries Limited have approved a resolution plan submitted by Triterras Holdings Pte Limited and Invent Assets Securitisation and Reconstruction Private Limited.

The company has been going through the Corporate Insolvency Resolution Process (CIRP) at the National Company Law Tribunal under the Insolvency and Bankruptcy Code, (IBC), 2016. Ramakrishnan Sadasivan, the Resolution Professional, informed that the COC members accounting for 80.64 per cent of the voting shares were in favour of the plan.

The approved plan would be filed with the NCLT shortly for its approval.

The e-voting portal was kept open during September 21 and closed on September 22, 2020 at 7 PM.

Published on September 28, 2020

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