KSS Ltd: NCLT Approves Resolution Plan, Monitoring Committee Formed

KSS Limited (In CIRP) announced that the National Company Law Tribunal (NCLT), Mumbai Bench, has approved the Resolution Plan submitted by M/s. Micro Capitals Private Limited. This approval follows the Committee of Creditors' (CoC) acceptance on October 17, 2023. As per the approved plan, a three-member Monitoring Committee will be constituted, comprising a representative of the Consenting Secured Financial Creditor, a representative of the Resolution Applicant, and the existing Resolution Professional. This committee will supervise the implementation of the Resolution Plan and manage the company's day-to-day operations until the closing date.