Sumeet Industries Limited

Corporate insolvency resolution — resolution plan approved · source: order listed by IBBI, 16 Jul 2024

Sector Construction & Infrastructure Bench NCLT Ahmedabad Last process activity 5 months ago · tribunal order

Acquired by

Consortium of Eagle Fashions Pvt. Ltd., Eagle Fibers Limited, Eagle Synthetics Pvt. Ltd., Padmini Polytex Pvt. Ltd., Eagle Sizers and JPB Fibers

Named in the NCLT plan-approval order.

Case record

at a glance

Admitted by the Ahmedabad bench on a petition by a financial 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 Construction & Infrastructure, registered in Gujarat

Admitted claims

₹500–2,000 Cr

Where the process stands

Admitted→Expression of Interest invited→Resolution plan approved

How cases like this ended

Construction & Infrastructure · 779 closed

Resolved 25% · Liquidation 34% · Withdrawn or closed 41%

NCLT Ahmedabad · 630 closed

Resolved 23% · Liquidation 49% · Withdrawn or closed 28%

Resolved cases in this sector: creditors' typical haircut 67.8% n=180

Liquidations in this sector: typical recovery 0.3% of claims n=43

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Admitted claims & creditor classesRecovery, haircut & plan valueCommittee of creditorsFinancialsCompany & MCA recordTimeline & key dates · 6 tribunal ordersProfessionalsBenchmarks against this caseIntelligence note

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