NCLT approves Zebronics India's INR 520-mln resolution plan for iBall
This story was originally published at 19:52 IST on 17 June 2025
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NEW DELHI – The Mumbai bench of the National Company Law Tribunal on Tuesday approved Zebronics India Pvt. Ltd.'s INR 520-million resolution plan for debt-ridden Best IT World India Pvt. Ltd, which conducts business as iBall.
"This bench observes in the present application that the CoC (committee of creditors) has approved the resolution plan with 98.45% voting share, hence as per the CoC, the plan meets the requirements of being viable and feasible for the reviving the corporate debtor," said the tribunal. The resolution plan provides for a detailed implementation schedule with specific timelines and the manner in which the management, control and supervision of Best IT World India would lie, said the tribunal.
In 2024, the tribunal had admitted a petition by Axis Bank to start insolvency proceedings against Best IT World India. The creditors of Best IT World India include IDBI Bank, Axis Bank, and HDFC Bank.
Initially, Zebronics India had offered an amount of INR 250 million for Best IT World India. However, pursuant to the challenge mechanism rounds conducted by the resolution professional of the debt-ridden company, the proposal was substantially enhanced to INR 520 million.
Zebronics India was founded in 1997 as an audio/video, information technology, gaming peripherals, mobile or lifestyle accessories, smart home, power and surveillance solutions brand. iBall is an Indian electronics company and brand that specialises in computer peripherals, smartphones, tablets, and other tech accessories.
On Tuesday, shares of Axis Bank ended unchanged at INR 1,215.10 on the National Stock Exchange, shares of IDBI Bank ended 2.1% lower at INR 92.48, and shares of HDFC Bank ended down 0.3% at INR 1,929.60. End
Reported by Surya Tripathi
Edited by Avishek Dutta
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