+
NCLT Approves Rs.184 Crore Resolution Plan for Satra Properties
Real Estate

NCLT Approves Rs.184 Crore Resolution Plan for Satra Properties

The National Company Law Tribunal (NCLT) has approved a Rs.184 crore resolution plan for Satra Properties, marking a significant step in the company's financial restructuring process. This decision comes as part of Satra Properties' efforts to address its financial challenges and ensure continued operations.

Under the approved plan, creditors will receive a structured settlement, which aims to recover a substantial portion of the dues owed to them. The resolution plan is designed to stabilize the company's financial situation and pave the way for its future growth and development.

Satra Properties, a prominent player in the real estate sector, has faced financial difficulties that led to the need for a comprehensive resolution strategy. The NCLT's approval is expected to provide the company with the necessary resources to manage its liabilities and focus on its core business operations.

The resolution plan includes provisions for debt restructuring and operational improvements, which are anticipated to enhance the company's efficiency and profitability. By addressing its financial issues, Satra Properties aims to strengthen its position in the market and continue its contributions to the real estate industry.

This development is a crucial step for Satra Properties as it navigates through its financial challenges, and it reflects the ongoing efforts within the industry to resolve financial distress and support sustainable growth.

The National Company Law Tribunal (NCLT) has approved a Rs.184 crore resolution plan for Satra Properties, marking a significant step in the company's financial restructuring process. This decision comes as part of Satra Properties' efforts to address its financial challenges and ensure continued operations. Under the approved plan, creditors will receive a structured settlement, which aims to recover a substantial portion of the dues owed to them. The resolution plan is designed to stabilize the company's financial situation and pave the way for its future growth and development. Satra Properties, a prominent player in the real estate sector, has faced financial difficulties that led to the need for a comprehensive resolution strategy. The NCLT's approval is expected to provide the company with the necessary resources to manage its liabilities and focus on its core business operations. The resolution plan includes provisions for debt restructuring and operational improvements, which are anticipated to enhance the company's efficiency and profitability. By addressing its financial issues, Satra Properties aims to strengthen its position in the market and continue its contributions to the real estate industry. This development is a crucial step for Satra Properties as it navigates through its financial challenges, and it reflects the ongoing efforts within the industry to resolve financial distress and support sustainable growth.

Next Story
Real Estate

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Next Story
Real Estate

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Next Story
Real Estate

SIEGER Boosts Automation in Mumbai Realty

SIEGER, a leading automation solutions provider, is expanding its advanced manufacturing capabilities to meet the surging demand for precision, high-speed automation in Mumbai’s rapidly growing real estate sector.Operating from a 21,000 m² advanced production hub in Coimbatore—part of a 40,000 m² integrated campus—SIEGER offers complete solutions from design and prototyping to manufacturing and deployment. The fully digitalised facility features CNC machining, QR-coded component tracking, conveyorized powder coating, and a Government of India–certified R&D centre, ensuring unmatc..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?