NCLT approves Rs.184-Cr acquisition of Satra Properties

The National Company Law Tribunal (NCLT) has approved the acquisition of Mumbai-headquartered bankrupt Satra Properties (India) by a consortium of realty developers MJ Shah Enterprises, MJ Shah Realtors LLP and Centrio Lifespaces under a INR 184 crore resolution plan, providing a structured pathway for the firm’s financial restructuring and operational revival.The tribunal dismissed former promoter Praful Satra's undervaluation claims.