NCLT approves Prakash Asphaltings & Toll Highways’ resolution plan

The bankruptcy court has approved Prakash Asphaltings & Toll Highways (India) Limited’s resolution plan for Rajahmundry Godavari Bridge Limi­ted. The Mumbai bench of the National Company Law Tribunal ap­p­rov­ed the revival plan after the lenders voted unanimously in its favour. The resolution professional was presented with claims in excess of Rs 9.85 billion, while the successful resolution plan proposed a total consideration of Rs 4.55 billion for the company.