Creditors approve four resolutions in ongoing insolvency process

The 21st creditors’ committee meeting approved four items by electronic voting. Acceptable claims were admitted with 89.07 percent support, against 51 percent required. Creditors also approved Grant Thornton Bharat’s fee for calculating liquidation values with 85.46 percent support, and ratified a 10-day extension for the draft resolution plan with 89.07 percent support. The extended gap between meetings was ratified with 89.07 percent support. These procedural votes do not mean a final resolution plan was approved.