NCLAT approves Resolution Plan for KSS Limited under CIRP
Awaiting price reaction for this filing.
The NCLAT, New Delhi, has approved the Resolution Plan submitted by Micro Capitals Pvt Ltd (Successful Resolution Applicant) for KSS Limited, which is undergoing CIRP since January 2023. The plan proposes a total payment of about Rs 3.01 crore against admitted claims of over Rs 106 crore, with committed infusion of Rs 13 crore over time. The NCLAT set aside the earlier March 2025 NCLT order that had rejected the plan, allowing appeals filed by Micro Capitals and the Resolution Professional. The NCLT will now pass consequential orders within a month, paving way for management change and reconstitution of the board.
Key milestone toward exiting CIRP; likely dilution of existing shareholders as Micro Capitals takes over management and control under the approved plan.