NCLAT upholds Resolution Plan approved for Adico Forge Pvt Ltd which Fully Secured Workers Claim [Read Order]

The bench found that the Resolution Plan fully covered the workers' claims for provident fund and gratuity
NCLAT - Resolution Plan - NCLAT Upholds Resolution Plan - Adico Forge Pvt Ltd - National Company Law Appellate Tribunal - Taxscan

The National Company Law Appellate Tribunal ( NCLAT ) upheld the Resolution Plan approved for Adico Forge Pvt Ltd which fully secured workers claim. The Corporate Insolvency Resolution Process ( CIRP ) against the Corporate Debtor/Respondent No. 4 commenced on 23.06.2023. Audico Forge Kamgar Sangathana (Appellant) filed a claim for dues of the workers. The…

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