Promoters revives MBL Infra with increased stake
MBL Infrastructure Ltd ( MBL Infra ) is engaged in the execution of civil engineering projects. The Company provides integrated engineering, procurement and construction (EPC) services for civil construction and infrastructure sector projects. Equity shares of company is listed on BSE & NSE and current market cap of the company is Rs. 58.24 crores. Insolvency Resolution Process & Resolution plan: Last year on 30 th March 2017 NCLT accepted an application filed by RBL bank for initiation of Corporate Insolvency Resolution Process (CIRP) against MBL Infra. During CIRP, a resolution plan submitted by MBL promoter A.K Lakhotia is accepted by Committee of Creditors (CoC) and approved by NCLT by its order dated 18/04/2018. Table 1: MBL Infra - Admitted claim (Rs in crores) Particulars Admitted claims % of total claim Financial Creditors 1,428.21 94.78% Operational Creditors 78.66 5.22% Total 1,506.87 100% Liquidation Value 269.9 ...