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Informist, Tuesday, Jul. 14, 2026

 

--NCLT approves Authum Investment's resolution plan for Creatoz Builders

 

NEW DELHI – The Mumbai bench of the National Company Law Tribunal has approved Authum Investment & Infrastructure Ltd.'s resolution plan for Creatoz Builders Pvt. Ltd. Authum Investment's overall resolution plan value is INR 80 million, together with the monetary value of flats to be provided to the home buyers amounting to INR 86.70 million, noted the tribunal. To be sure, Creatoz Builders had total admitted dues of INR 28.25 billion and its committee of creditors have approved Authum Investment's resolution plan with 99.31% favourable votes.  

 

Authum Investment's resolution plan contemplates infusion of resolution money through a special purpose vehicle as an alternate structure, said the tribunal. It is clarified that Authum Investment shall directly or indirectly hold more than 50% of the share capital of Creatoz Builders at least in case it is decided to implement the approved plan through the special purpose vehicle, it said. 

 

The resolution plan provided for increase in the authorised share capital of Creatoz Builders, if required, assignment of the claims of the secured financial creditors to Authum Investment, conversion of such assigned claims, in whole or in part, into equity shares of the corporate debtor. The resolution plan further provides for retention of the existing employees of the Creatoz Builders on the existing terms and conditions, while reserving liberty to Authum Investment to induct additional personnel and workforce in accordance with its business requirements and applicable laws.

 

The case has its genesis from the tribunal admitting insolvency proceedings against Creatoz Builders on Shree Electricals Enterprises' plea. Authum Investment was also the financial creditor of Creatoz Builders, with 98.3% favourable votes to its own resolution plan. 

 

Authum Investment is a non-banking finance company and is also engaged in financing activity, with some immovable properties, and is generating a good liquid surplus, the tribunal noted. Creatoz Builders is a builder and developer and it has constructed a scheme of 23 Residential Towers in Pune district in Maharashtra. 

 

At 1302 IST, the shares of Authum Investment & Infrastructure Ltd. were down 1.4% at INR 512.60 on the National Stock Exchange.  End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by Surya Tripathi

Edited by Akul Nishant Akhoury

 

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