NCLT approves Sankalp Industrial's resolution plan for Renaissance Indus
This story was originally published at 19:12 IST on 17 February 2026
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NEW DELHI – The Mumbai bench of the National Company Law Tribunal Tuesday approved Sankalp Industrial Infratech Pvt. Ltd.'s INR-550-million resolution plan for debt-ridden Renaissance Indus Infra Pvt. Ltd., a real estate and construction company. Sankalp Industrial proposed that an amount of INR 5 million would be infused as share capital or share warrants in Renaissance Indus Infra within 90 days, the tribunal noted.
In 2023, the tribunal had admitted Catalyst Trusteeship Ltd.'s petition to start insolvency proceedings against Renaissance Indus Infra. Its committee of creditors include Parijata Trading Pvt. Ltd., who got the loan assigned by Catalyst Trusteeship, and IIFL Finance Ltd. Renaissance Indus Infra had total admitted dues of INR 13.85 billion from all its creditors.
The prospective resolution applicants of Renaissance Indus Infra included Authum Investment & Infrastructure Ltd., Jindal Power Ltd., HR Commercials Pvt. Ltd. and others. However, the committee of creditors of Renaissance Indus received only one resolution plan, submitted by Sankalp Industrial. Last year, the committee of creditors of Renaissance Indus approved the resolution plan submitted by Sankalp Industrial with 99.24% favourable votes.
According to the tribunal's order, Sankalp Industrial has been established with a vision to diversify and innovate in the industrial and real estate sectors. Sankalp Industrial offers a wide range of services encompassing manufacturing, development, and consultancy.
Tuesday, the shares of IIFL Finance ended 1.8% higher at INR 519.90 on the National Stock Exchange. End
Reported by Surya Tripathi
Edited by Akul Nishant Akhoury
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