NBCC (India) Limited has informed the Exchange regarding ''.General Updates- Submission of Resolution Plan by NBCC (India) Limited with respect to Corporate Insolvency Resolution Process (CIRP) of M/s Celebration City Projects Private Limited, Ghaziabad (RED Mall)
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NBCC (India) Limited has submitted a Resolution Plan under the Corporate Insolvency Resolution Process (CIRP) for M/s Celebration City Projects Private Limited, Ghaziabad (known as RED Mall). The submission was made on May 17, 2025, and the company has informed both NSE and BSE about this development. Celebration City Projects is a private company undergoing insolvency, and NBCC is positioning itself as the resolution applicant. The company has stated that further updates in the matter will be communicated to the exchanges in due course.
This is a positive development for NBCC shareholders as it represents a potential asset acquisition through the IBC route, which could expand NBCC's real estate portfolio. However, the financial terms and the final approval from NCLT are still pending, so the actual impact on earnings and stock price will depend on the size of the deal and successful resolution.