NCLT approves resolution plan for Satra Properties, dismisses valuation objections
The National Company Law Tribunal (NCLT) in Mumbai approved the Rs 184 crore acquisition of bankrupt Satra Properties by a consortium of MJ Shah Enterprises, MJ Shah Realtors LLP, and Centrio Lifespaces. The tribunal dismissed former promoter Praful Satra's undervaluation claims. The ruling supports Satra Properties' financial restructuring and operational revival.