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NCLAT upholds Adani Goodhomes bid with 93% haircut for Radius Estate

Dated on: Wednesday 29th May 2024

The Insolvency Appellate Tribunal (NCLAT) has confirmed the approval of Adani Goodhomes' resolution plan for Radius Estate, which involves a 93 percent reduction in debt for creditors. A two-member panel, including the NCLAT Chairman, dismissed the objections from two dissenting financial creditors, citing the "commercial wisdom" of the Committee of Creditors (CoC) that approved the payouts to various creditors.

Source: ET Realty