NCLT approves Ashdan Properties' INR 9-billionresolution plan for Rolta India
This story was originally published at 18:43 IST on 15 December 2025
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NEW DELHI – The Mumbai bench of the National Company Law Tribunal Monday approved Ashdan Properties Pvt. Ltd.'s INR 9-billion resolution plan for debt-ridden Rolta India Ltd. In 2024, the committee of creditors of Rolta India had approved Ashdan Properties' resolution plan with all votes in favour.
The tribunal had admitted Union Bank of India's plea to start insolvency proceedings against Rolta India in 2023 for unpaid dues of INR 140.74 billion. The company's other creditors included Bank of Baroda, Bank of India, Canara Bank, and Central Bank of India. The fair value of Rolta India is INR 5.86 billion and its liquidation value is INR 5.08 billion.
Rolta India was a leading service provider of innovative information technology solutions for many vertical segments, including government, defence, utilities, process, power, financial services, manufacturing, retail, and health care.
Ashdan Properties is a real estate firm based in Pune, Maharashtra, which had also acquired D.S. Kulkarni Developers and Indo Global Soft Solutions and Technologies Pvt. Ltd. It is associated with the Ashdan Group of the UK which handles construction and property development.
Monday, shares of Rolta India ended 2.8% lower at INR 1.72 on the National Stock Exchange. End
Reported by Surya Tripathi
Edited by Rajeev Pai
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