Supreme Infrastructure India’s settlement plan for creditors gets NCLT nod

Industry:    1 day ago

The National Company Law Tribunal (NCLT) has approved the settlement plan for the financial liabilities of listed construction firm Supreme Infrastructure India, paving the way for the resolution of debt worth ₹2,200 crore.

As per the plan, the company’s liabilities will be addressed through structured repayments, asset monetisation and financial adjustments. The total settlement amount payable to the financial creditors for their exit from the company, with no ongoing or new exposure, against the outstanding financial debt is ₹ 464 crore. Of this, ₹183.29 crore will be paid to financial creditors through the monetisation of the company’s assets and promoters’ assets. An amount of ₹147.23 crore will be raised through equity from existing or new investors, along with contributions from promoters, to finance the payment to creditors.

Besides, ₹133.48 crore will be paid to financial creditors through the monetisation of the company’s and promoters’ assets, which are exclusively pledged to specific financial creditors who will receive payments in exchange for releasing their charges.

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