NCLT approves Datalink Multi Trading resolution plan
In short
The NCLT has approved Datalink Multi Trading’s resolution plan, even though the company had over Rs 140 crore in nil-valued loans and investments.
The approval came after 100% of the Committee of Creditors backed the plan. It lets the insolvency process move ahead under the IBC.
What the reporting says
The NCLT approved Datalink Multi Trading's resolution plan despite more than Rs 140 crore in nil-valued loans and investments. The tribunal relied on 100% Committee of Creditors approval and provisions of the Insolvency and Bankruptcy Code. The order clears the way for the resolution process to move forward under the approved plan. The ruling gives legal backing to the company’s restructuring effort.
Why it matters
The NCLT approved Datalink Multi Trading’s resolution plan despite more than Rs 140 crore in nil-valued loans and investments. The decision was based on 100% Committee of Creditors approval and compliance with Insolvency and Bankruptcy Code provisions. The order supports the company’s restructuring and moves the insolvency case forward.