NCLT okays Taguda's revival plan for Ushdev International

The dedicated bankruptcy court has approved Singapore-based Taguda's revival plan for BSE-listed Ushdev International. The company, featuring in the central bank's second list of large defaulters, was referred for mandatory resolution at the National Company Law Tribunal (NCLT). Taguda (TPL) is promoted by Sagar Zaveri, who comes from the Tribhovandas Bhimji Zaveri family. The target company had admitted liabilities of INR 4,205 crore and TPL's resolution plan proposed INR 227 crore for its revival.