Morarjee Textiles Limited has informed the Exchange about Others
MORARJEE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Morarjee Textiles Limited announced that the Hon'ble National Company Law Tribunal, Mumbai Bench has orally approved the Resolution Plan submitted by Shriniwas Spintex Industries Private Limited on May 11, 2026. The company has been under Corporate Insolvency Resolution Process since February 2024 following NCLT's order in CP(IB) No. 1318/MB-VI/2022. The Committee of Creditors had approved the resolution plan on April 3, 2025, and it was filed with NCLT on April 20, 2025. The formal Approval Order is yet to be published, and the company will submit additional disclosures under LODR regulations once the order is available.
The NCLT approval marks a major milestone in the company's insolvency resolution process. The formal order publication and implementation of the resolution plan will determine the future structure of the company, including potential changes in ownership and shareholder value recovery.