Abhishek Corporation Limited — Others, 05-02-2025: Corporate Insolvency Resolution Process

Mahalaxmi Texpro Limited has announced a board meeting to discuss the status of its liquidation process under the Insolvency and Bankruptcy Code. The latest order from the Hon'ble NCLT confirms that the liquidation proceedings are now closed, concluding a challenging timeline marked by various legal and operational hurdles. The corporate debtor was sold as a going concern, and a total sale consideration of Rs. 40.45 crore has been realized. While stakeholders, including secured creditors, received partial distributions, the outcome indicates a significant resolution of obligations and could enhance investor sentiment towards the company's recovery trajectory.