NCLT Hyderabad Approves Resolution Plan For Karvy Data Management Services Limited

The NCLT Hyderabad approved the resolution plan for Karvy Data Management Services Limited under the Insolvency and Bankruptcy Code (IBC). The resolution plan was submitted to the National Company Law Tribunal (NCLT) for approval, and after a review, the plan was accepted. The approval marks a critical step in the restructuring process for the distressed company, enabling it to move forward under a new management structure. This ruling highlights the role of the IBC in facilitating corporate restructuring and the resolution of insolvency cases.