Team Blitz India
NEW DELHI: National Company Law Appellate Tribunal (NCLAT) has upheld orders approving Adani Goodhomes resolution plan for realty firm Radius with a 93 per cent haircut for creditors. A two-member bench comprising the NCLATChairman rejected the petitions by two dissenting financial creditors, saying it was “commercial wisdom” of the Committee of Creditors (COC), which approved the payout to different creditors.
Earlier, the Mumbai bench of the NCLT on January 9, 2022, had approved the resolution plan of Adani Goodhomes, a part of Adani Realty.
As per the resolution plan, which received an 83.99 per cent of the vote of the CoC and was approved by NCLT, nearly 700 flat owners were getting possession of without escalation of any price.
The plan was opposed by two dissenting financial creditors –Beacon Trusteeship and ICICI Prudential Vneture Capital Fund Real Estate before the NCLAT.
According to reports, Adani Goodhomes had proposed to pay around Rs 76 crore as against total claims of Rs 1,700 crore.
