Legal18 May 2026, 03:36 pm
Kinetic Trust Resolution Plan for Sibri Traders Approved
AI Summary
Kinetic Trust Limited's resolution plan for Sibri Traders Private Limited has been approved by the National Company Law Tribunal (NCLT), Prayagraj Bench, via an order dated 06 May 2026. The company received the certified order copy on 15 May 2026 and will now proceed with implementing the resolution plan as per the NCLT's directions and applicable laws. The resolution plan was approved under Section 30(6) R/w Section 31(1) of the Insolvency and Bankruptcy Code, 2016.
Key Highlights
- NCLT Prayagraj approved Kinetic Trust's resolution plan for Sibri Traders on May 6, 2026.
- Kinetic Trust received the certified order copy on May 15, 2026.
- The company will implement the resolution plan as per NCLT directives.
- Resolution plan approved under IBC Section 30(6) and 31(1).
- Sibri Traders was undergoing CIRP initiated by Bakliwal Vyapaar Pvt. Ltd.
Price Impact
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