NCLT approves resolution plan of Teknik Plant and Machinery MFG. Co. Pvt. Ltd.

H R Bearing Corporation Vs Teknik Plant and Machinery MFG. Co. Pvt. Ltd. (NCLT Mumbai) National Company Law Tribunal (NCLT) Mumbai recently adjudicated on the approval of a resolution plan submitted by Mrs. Archana Pankaj Mahale, the proprietor of M/s. Siddhanath Enterprises, for Teknik Plant and Machinery MFG. Co. Pvt. Ltd. The case unfolded under the provisions of the Insolvency and Bankruptcy Code, 2016 (IBC), initiated when Teknik Plant and Machinery MFG. Co. Pvt. Ltd. (referred to as the “Corporate Debtor”) was admitted into Corporate Insolvency Resolution Process (CIRP) on Fe...