KSS Limited Resolution Plan Approved by NCLT; Monitoring Committee to Oversee Implementation
KSS Limited, a company currently undergoing the Corporate Insolvency Resolution Process (CIRP), has received approval for its resolution plan from the National Company Law Tribunal (NCLT). The NCLT Mumbai Bench approved the plan on August 5, 2026. This ruling gives legal effect to the pre-approved Resolution Plan submitted by Micro Capitals Private Limited, who serves as the Resolution Applicant in the CIRP.The approval follows a process that began with the members of the Committee of Creditors (CoC) approving the resolution plan during their meeting held on October 17, 2023.
As stipulated within the terms of the approved Resolution Plan, the implementation process will be supervised by a dedicated Monitoring Committee. The structure of this committee requires three members: one representative from the Consenting Secured Financial Creditor, one representative from the Resolution Applicant, and one existing resolution professional.
The Role of the Monitoring Committee
According to the parameters set forth in the Resolution Plan, the Monitoring Committee is tasked with supervising the execution of the approved plan. Furthermore, the committee will be responsible for conducting the day-to-day operations and managing the company until the final closing date defined within the resolution framework.
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