NCLT approves resolution plan
Amit Spinning Industries announced that the NCLT has approved the resolution plan as submitted by Deepak Chaganlal Choudhari and Jitendra Kumar Chopra being the Resolution Applicants for Amit Spinning Industries.The Resolution Plan envisages acquisition of up to 90% of ownership of the Company by Resolution Applicant by way of restructuring of share capital / allotment of shares and the subsequent reclassification of the existing promoters of the Company upon acquisition of control by the Resolution Applicant. Such reclassification is an integral part of the Resolution Plan. Consequently, on implementation of aforesaid Resolution Plan, the existing promoters i.e. Spentex Industries will not be classified as promoters of the Company .
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