Simplex Projects’ promoter secures NCLT’s nod for acquiring company through bankruptcy

The Kolkata bankruptcy court has approved the revival plan for Simplex Projects proposed by its promoter, Sudarsshhan Das Mundhra. The plan, which received 99.51% approval from lenders, includes a payment of Rs 235.28 crore towards the company's total liabilities of Rs 2,108.49 crore.