Rajeswari Infrastructure Ltd. Receives NCLT Approval for Resolution Plan
Chennai, March 19, 2026 – Rajeswari Infrastructure Limited announced that the Hon'ble National Company Law Tribunal (NCLT), Chennai Bench, approved the Resolution Plan submitted in the matter of Intec Capital Limited vs. Rajeswari Infrastructure Limited. The order was issued on January 13, 2026.The approval disposes of related applications and approves the resolution plan submitted by the Successful Resolution Applicant (SRA).
Financial Details of the Resolution Plan
The approved resolution plan outlines a capital structure change, with fresh issuance of 10,10,116 shares and the extinguishment of existing shares. The plan involves a total consideration of 12,69,00,000 (Rupees Twelve Crore Sixty Nine Lakhs).
Payment to Creditors
The plan details payments to various stakeholders, including:
- CIRP Cost: Rs. 35,00,000.
- Operational Creditors (Statutory): NIL
- Operational Creditors (Others): Rs. 50,000 to each operational creditor.
- Secured Financial Creditors: Rs. 10,05,00,000, with an additional Rs. 2,05,00,000.
- Workmen and Employees: NIL
- Shareholders: NIL
Source of Funds
The Successful Resolution Applicant intends to infuse Rs. 1,01,01,160 in the form of fresh equity. Additionally, a sale of non-core assets is projected to generate Rs. 2,50,00,000.
IA(IBC)/1140(CHE)/2024
Application IA(IBC)/1140(CHE)/2024, concerning a disbursement of Rs. 2,19,41,340, has been disposed of as it becomes infructuous following the approval of the Resolution Plan.
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