ER Textiles Limited

Corporate insolvency resolution — resolution plan approved · source: order listed by IBBI, 20 Dec 2023

Sector Textiles & Apparel Bench NCLT Kolkata Last process activity 12 months ago · tribunal order

Acquired by

Vajram Estates Pvt. Ltd.

Named in the NCLT plan-approval order.

Case record

at a glance

Admitted by the Kolkata bench on a petition by a financial creditor. Current status: Resolved.

Admission to plan approval

1 yr 11 mo

This case

NCLT Kolkata median · 1 yr 6 mo

All India median · 1 yr 8 mo

Medians: time from admission to plan approval, over closed cases (n = 177 / 1,536). Pre-packs left out.

The company

Public limited company in Textiles & Apparel, registered in West Bengal

Admitted claims

₹500–2,000 Cr

Where the process stands

Admitted→Expression of Interest invited→Resolution plan approved

How cases like this ended

Textiles & Apparel · 442 closed

Resolved 19% · Liquidation 55% · Withdrawn or closed 27%

NCLT Kolkata · 755 closed

Resolved 24% · Liquidation 47% · Withdrawn or closed 29%

Resolved cases in this sector: creditors' typical haircut 81.1% n=80

Liquidations in this sector: typical recovery 5.8% of claims n=84

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Admitted claims & creditor classesRecovery, haircut & plan valueCommittee of creditorsFinancialsCompany & MCA recordTimeline & key dates · 4 tribunal ordersProfessionalsBenchmarks against this caseIntelligence note

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