Debt-ridden Jyoti Structures' insolvency resolution may conclude soon

One of the 12 large stressed assets, Jyoti Structures, which owes Rs 70 billion to its lenders, may see its debt resolution conclude within a few weeks. A resolution plan was proffered on April 6, and according to reports, 81 per cent of the lenders agreed on it. The Mumbai Bench of the NCLT will hear the matter on April 18. 

In the meantime, the resolution professional (RP) has to resolve issues related to payments to the security agency, sources said. In a filing with the BSE on Monday, the RP said that majority votes required for the approval were received,