National Company Law Tribunal Approves Resolution Plan for Morarjee Textiles Ltd
Morarjee Textiles Ltd. announced that the National Company Law Tribunal, Mumbai Bench, approved a Resolution Plan for the corporate insolvency resolution of the company. The Approval Order was pronounced orally on May 11, 2026, by the Adjudicating Authority.The resolution plan was submitted by Shriniwas Spintex Industries Private Limited, who served as the Resolution Applicant. The approval marks a significant step in the ongoing corporate insolvency process for Morarjee Textiles Limited.
The company confirmed that the Approval Order is currently awaiting official publication by the Adjudicating Authority.
Morarjee Textiles Ltd. is currently undergoing the Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016. The business and assets of the company are being managed by Mr. Ravi Sethia, who was appointed as the interim resolution professional by the National Company Law Tribunal, Mumbai, on February 9, 2024. Mr. Sethia was subsequently confirmed as the Resolution Professional by the Committee of Creditors on May 22, 2024.
MORARJEE Stock Price Movement
As of 2:17 PM, shares of Morarjee Textiles Limited remain stable in live trading, holding steady at ₹7.25 with no percentage change recorded. The stock is currently trading within its recent yearly range, which spans from a low of ₹5.58 to a high of ₹9.99.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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