Intelligence note
Admitted 16 Dec 2024 by the Mumbai bench on a petition by Axis Trustee Services Limited (in Its Capacity As the Debenture Trustee for Blacksoil Capital Private Limited and Blacksoil India Credit Fund) (a financial creditor). Default dated 27 Mar 2024 per the admission order (0.7 years before admission). Plan from MKS Constro-Venture Private Limited approved 20 Mar 2026, 459 days after admission (resolved-case median: 630 days). Creditors realise 15.18% of ₹25.68 Cr admitted; haircut 84.8% (median 78.0% across resolutions).
A healthtech company incorporated in 2020, resolved within 15 months through a pure equity infusion of ₹4.25 Cr by MKS Constro-Venture Private Limited, as 42.5 lakh shares. At Form G it had no fixed assets and no employees; registered valuers put liquidation value at ₹8.12 lakh.
A healthtech company incorporated in 2020, resolved within 15 months through a pure equity infusion of ₹4.25 Cr by MKS Constro-Venture Private Limited, as 42.5 lakh shares. At Form G it had no fixed assets and no employees; registered valuers put liquidation value at ₹8.12 lakh.
Case details
CIN
U85100MH2020PTC335670
Incorporated
2020
Registered State
Maharashtra
NCLT Bench
Mumbai
Petition
CP(IB) No. 749 of 2024
Initiated by
FC — Axis Trustee Services Limited (in its capacity as the Debenture Trustee for Blacksoil Capital Private Limited and Blacksoil India Credit Fund)
Date of Default (per admission order)
27 Mar 2024
Commencement
16 Dec 2024
Outcome Date
20 Mar 2026
Admitted Claims
₹25.68 Cr
Liquidation Value
₹8.12 L
Fair Value
₹10.53 L
Realisable Amount
₹3.90 Cr
Recovery vs Claims
15.18%
NCLT Mumbai: median 550 days admission → verdict · 34% of concluded matters ended in plan approval (n=1,269, full record) · all benches →
Plan at a glance
The deal
₹4.25 Cr
Winning plan
MKS Constro-Ventures Private Limited, with 94.39% of the CoC vote
Also in the race: Sobhagya Mercantile Limited (plan submitted)
Also in the race: Sobhagya Mercantile Limited (plan submitted)
Funding
The RA and/or its nominees subscribe ₹4.25 Cr equity through 42,50,000 shares; the RA may also raise unsecured loans or other borrowings.
Payout period
within 30 days of NCLT Approval Date / 30 Days from the effective date
Dissenting lenders
Any dissenting financial creditors (secured or unsecured) will receive at least their liquidation value, paid in priority over other financial creditors, funded out of upfront capital infusion.
Who gets what (₹ crore)
| Admitted | Provided in the plan | % of admitted | |
|---|---|---|---|
| Financial creditors | 15.09 | – | – |
| Operational and other creditors | 10.59 | – | – |
| All creditors | 25.68 | 3.90 | 15.2% |
All creditors together: about 15 paise for every ₹1 of admitted claims.
Recent movement
2 Mar 2025
EoI deadline
RP: Hemanshu Lalitbhai Kapadia
17 Apr 2025
EoI deadline
RP: Hemanshu Lalitbhai Kapadia
20 Mar 2026
Resolution plan approved
Acquired by MKS Constro-Venture Private Limited
Haircut 84.82%
Haircut 84.82%
Valuations & recovery
Fair value
₹10.53 L
Liquidation value
₹8.12 L
The plan
Successful applicant
MKS Constro-Venture Private Limited
CoC approval
94.39% voting share · 17th meeting · voted 6 Jan 2026
How the plan pays
·Total Plan Amount of ₹4.25 Cr, infused primarily as equity capital: 42,50,000 equity shares
·SRA may additionally infuse unsecured loans for working capital and capex at its discretion
·Maximum amount payable to all stakeholders capped at the Total Plan Amount
EoI / Form-G detail
Dates as captured from IBBI on 30 Aug 2026
Case timeline
◆ RP changed during process16 Dec 2024
CIRP commenced
Insolvency proceedings began · NCLT Mumbai
2 Mar 2025
EoI deadline
RP: Hemanshu Lalitbhai Kapadia
17 Apr 2025
EoI deadline
RP: Hemanshu Lalitbhai Kapadia
20 Mar 2026
Resolution plan approved
Acquired by MKS Constro-Venture Private Limited
Haircut 84.82%
Haircut 84.82%
15 months elapsed · admission → resolution
Company
Legal name
REDKENKO HEALTH TECH PRIVATE LIMITED
Type
Private · Company limited by shares
Listing
Unlisted
Incorporated
8 Jan 2020
Authorised capital
₹163.50 Cr
Paid-up capital
₹114.79 Cr
Industry (MCA)
Community, personal and Social Services
ROC
ROC Mumbai
Company status
Active
Registered address
16th Floor, 1608, B & C Wing C/66, G Block One BKC, Opposite Bank of Baroda, Bandra, (E)Mumbai, Mumbai, Mumbai City, Maharashtra, 400051, India
Claims filing history
Operational creditors ↓
2 ↓
3 ↓
4 ↓
Other stakeholders ↓
Secured FC — class of creditors ↓
Secured financial creditors ↓
FC — class of creditors (homebuyer-type) ↓
Unsecured financial creditors ↓
v5 · latest
as on 19 Feb 2026 · filed by Pawan Kumar Sharma
v4
as on 27 Dec 2025 · filed by Pawan Kumar Sharma
v3
as on 25 Jun 2025 · filed by Hemanshu Lalitbhai Kapadia
v2
as on 25 Apr 2025 · filed by Hemanshu Lalitbhai Kapadia
v1
as on 9 Jan 2025 · filed by Hemanshu Lalitbhai Kapadia
Committee of creditors
As recorded in the plan-approval order of 20 Mar 2026
| Creditor | Class | Voting share | Vote | Admitted |
|---|---|---|---|---|
| Finvin Investor Private Limited | 94.39% | for | ||
| The Hongkong and Shanghai Banking Corporation | 5.61% |
At approval the CoC had two financial creditors: Finvin Investor Private Limited (94.39%) and The Hongkong and Shanghai Banking Corporation Limited (5.61%).
Dissenting creditors: Any dissenting financial creditors (secured or unsecured) will receive at least their liquidation value, paid in priority over other financial creditors, funded out of upfront capital infusion.
Sources, basis and disclaimers → ·
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This case vs Healthcare
Haircut84.8%
typical for this sector 56.6%
Time to resolution459 days
typical for this sector 539 days
Size rank in sector#19 of 26
Key parties
Resolution Professional
3 IBBI mandates · 1 of 1 resolved plan beat the liquidation floor
IRP at commencement
Hemanshu Lalitbhai Kapadia → · Dec 2024
Per IBBI's register of insolvency professionals, read 5 Oct 2026
CIRP initiated by
Axis Trustee Services Limited (in Its Capacity As the Debenture Trustee for Blacksoil Capital Private Limited and Blacksoil India Credit Fund) FC
Resolution applicant
MKS Constro-Venture Private Limited
About the applicant
MKS Constro-Venture Private Limited - infrastructure sector construction company mainly focused on irrigation and highways civil engineering projects.
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