Morarjee Textiles Limited announced that the Resolution Professional has filed the Resolution Plan with the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench on 20th April 2025 for its consideration and approval.
This action follows the Committee of Creditors (CoC) approval of the Resolution Plan submitted by Shriniwas Spintex Industries Private Limited, as previously announced on 3rd April 2025.
Morarjee Textiles is currently undergoing Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016.
Mr. Ravi Sethia is the Resolution Professional, initially appointed as interim resolution professional by NCLT on 9th February 2024 and subsequently confirmed as Resolution Professional by CoC on 22nd May 2024.