GSL Nova Petrochemicals Limited

Corporate insolvency resolution — resolution plan approved · source: NCLT order, 5 Oct 2021

Sector Real Estate & Housing Bench NCLT Ahmedabad

Acquired by

I. Mr. Sunil Kataria, II. Rani Kataria III. Anokhilalji Kataria IV. Harsh Kataria V. Nagina Devi Kataria VI. Praveena Devi Kataria VII. Subhadra Kataria VIII Yash Kataria (Jointly)

Named in the NCLT plan-approval order.

Case record

at a glance

Admitted by the Ahmedabad bench on a petition by an operational creditor. Current status: Resolved.

Admission to plan approval

1 yr 6 mo

This case

NCLT Ahmedabad median · 1 yr 6 mo

All India median · 1 yr 8 mo

Medians: time from admission to plan approval, over closed cases (n = 143 / 1,536). Pre-packs left out.

The company

Listed public limited company in Real Estate & Housing, registered in Gujarat

Admitted claims

₹10–100 Cr

Where the process stands

Admitted→Expression of Interest invited→Resolution plan approved

How cases like this ended

Real Estate & Housing · 393 closed

Resolved 26% · Liquidation 27% · Withdrawn or closed 47%

NCLT Ahmedabad · 630 closed

Resolved 23% · Liquidation 49% · Withdrawn or closed 28%

Resolved cases in this sector: creditors' typical haircut 67.6% n=89

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Admitted claims & creditor classesRecovery, haircut & plan valueCommittee of creditorsFinancialsCompany & MCA recordTimeline & key dates · 2 tribunal ordersProfessionalsBenchmarks against this caseIntelligence note

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