Legal10 Jul 2026, 05:20 pm
SAB Events gets NCLT approval for PPIRP resolution plan
AI Summary
SAB Events & Governance Now Media Limited announced that the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench, has orally approved its Resolution Plan under the Pre-Packaged Insolvency Resolution Process (PPIRP). This approval is in accordance with Section 54L of the Insolvency and Bankruptcy Code, 2016. The detailed written order is awaited, and the company will submit it to the stock exchanges upon receipt. This development marks a significant step in the company's insolvency resolution process.
Key Highlights
- NCLT Mumbai Bench orally approved the Resolution Plan for PPIRP.
- Approval granted under Section 54L of the Insolvency and Bankruptcy Code, 2016.
- Detailed written order from NCLT is still awaited.
- Company will submit the certified copy of the order to stock exchanges.
- This is a crucial step in the company's insolvency resolution process.
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