Intelligence note
A 2020-incorporated healthtech admitted to CIRP in Dec 2024 and resolved inside 15 months. MKS Constro-Venture Private Limited takes the company through a pure equity infusion - Rs 4.25 Cr as 42.5 lakh shares - with the payout to all stakeholders hard-capped at the plan amount. Approved 94.39% in the 17th CoC meeting on 06.01.2026.
Case details
CIN
U85100MH2020PTC335670
Incorporated
2020
Registered State
Maharashtra
NCLT Bench
Mumbai
Initiated by
FC — Axis Trustee Services Limited (in its capacity as the Debenture Trustee for Blacksoil Capital Private Limited and Blacksoil India Credit Fund)
Defunct / BIFR
1
Commencement
17 Dec 2024
Outcome Date
20 Mar 2026
Admitted Claims
₹25.68 Cr
Liquidation Value
₹0.08 Cr
Fair Value
₹0.11 Cr
Realisable Amount
₹3.90 Cr
Recovery vs Claims
15.18%
Recovery vs LV
49×
NCLT Mumbai: median 550 days admission → verdict · 34% of concluded matters ended in plan approval (n=1,203, full record) · all benches →
Recent movement
17 Dec 2024
CIRP commenced
Insolvency proceedings began · NCLT Mumbai
02 Mar 2025
Expressions of interest invited
RP: Mr. Hemanshu Lalitbhai Kapadia
17 Apr 2025
Expressions of interest invited
RP: Mr. 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
₹0.11 Cr
Liquidation value
₹0.08 Cr
Recovery vs liquidation value
49×
liquidation value ₹0.08 Cr — the ratio is unstable at this scale
liquidation value ₹0.08 Cr — the ratio is unstable at this scale
The plan
Successful applicant
MKS Constro-Venture Private Limited
CoC approval
94.39% voting share · 17th meeting · 06 Jan 2026
How the plan pays
·Total Plan Amount of Rs 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
Curated verbatim from the NCLT plan-approval order - the authoritative per-case record. Contingent components pay only if their conditions occur.
EoI / Form-G detail
Plan submission by
02 May 2025
⚠ IBBI rp-process tab, scraped 28/30-Aug-2026.
Form-G rounds — plans invited 2 times since Mar 2025
Each row is one complete invitation round from IBBI's register. Repeated rounds are the process telling you how the market answered.
Case timeline
17 Dec 2024
CIRP commenced
Insolvency proceedings began · NCLT Mumbai
02 Mar 2025
Expressions of interest invited
RP: Mr. Hemanshu Lalitbhai Kapadia
17 Apr 2025
Expressions of interest invited
RP: Mr. 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
08 Jan 2020
Authorised capital
₹163.5 Cr
Paid-up capital
₹114.79 Cr
Industry (MCA)
Community, personal and Social Services
ROC
ROC Mumbai
Company status
Active — company survived resolution
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
Source: MCA Company / LLP Master Data — registry snapshot; figures are as on the stated date, not live.
Claims filing history
Creditor classes with claims on file (latest version) — a chip with ↓ opens the filed creditor list, with per-creditor claimed and admitted amounts
Employees ↓
Government dues ↓
Workmen ↓
Other stakeholders ↓
Secured FC — class of creditors ↓
Secured financial creditors ↓
v5 · latest
as on 19 Feb 2026 · filed by Mr. Pawan Kumar Sharma
v4
as on 27 Dec 2025 · filed by Mr. Pawan Kumar Sharma
v3
as on 25 Jun 2025 · filed by Mr. Hemanshu Lalitbhai Kapadia
v2
as on 25 Apr 2025 · filed by Mr. Hemanshu Lalitbhai Kapadia
v1
as on 09 Jan 2025 · filed by Mr. Hemanshu Lalitbhai Kapadia
IBBI claims register, filed by the professional under the CIRP/liquidation regulations · a re-filed version means claims were re-verified — cadence is activity, amounts live in the per-class filings.
Committee of creditors
CoC composition not yet recorded for this case. Sourced from NCLT filings — added over time.
About this data: Case data is assembled from NCLT/NCLAT orders, IBBI public announcements, quarterly outcome records and the MCA registry. See how every number is sourced, checked and corrected →.
Report an error →
This case vs Healthcare
Haircut84.8%
typical for this sector 56.1% · median of 20
Recovery vs liquidation value49×
typical for this sector 113.8% · median of 20
liquidation value ₹0.08 Cr — the ratio is unstable at this scale
liquidation value ₹0.08 Cr — the ratio is unstable at this scale
60% of resolutions in this sector recovered more than their liquidation value — this one did.
Time to resolution458 days
typical for this sector 479 days · median of 20
Size rank in sector#15 of 20
Medians across every recorded Healthcare resolution in stressed.in's IBBI universe — the median, not the average, because these distributions are skewed and the average of the recovery ratio is not a meaningful number. The Code sets a 330-day outer limit; 72% of concluded cases exceed it (n=4,549). How these are computed →
Key parties
Resolution Professional
2 IBBI mandates · 4875% of liquidation value realised across concluded work
IRP at commencement · replaced
Hemanshu Lalitbhai Kapadia · Dec 2024
◆ RP changed during CIRP — IRP was replaced
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
MKS Constro-Venture Private Limited - infrastructure sector construction company mainly focused on irrigation and highways civil engineering projects.
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