Indus Fila Resolution Plan Approved by NCLT Bangalore

Indus Fila Ltd's resolution plan, as per the NCLT Bangalore order dated 10-05-2019, has been approved. The resolution plan, submitted by SPG Macrocosm Limited through SPV-Vision Textile, was approved by the Committee of Creditors on 15th January 2019. The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition filed by M/s. S.F.Dyes under Section 9 of the IBC, leading to the imposition of a moratorium and appointment of an Interim Resolution Professional.