CoC approves Nazara Technologies resolution plan for Smaaash Entertainment Pvt Ltd

The Committee of Creditors ("CoC") of Smaaash Entertainment Private Limited ("Smaaash"), a company undergoing Corporate Insolvency Resolution Process ("CIRP") under the Insolvency and Bankruptcy Code, 2016 ("IBC"), has approved the Resolution Plan submitted by Nazara Technologies Limited ("the Company").

The Company has received a Letter of Intent ("LOI") from the Resolution Professional ("RP") of Smaaash on August 07, 2024, informing the Company that it has been declared as the "Successful Resolution Applicant."

The Resolution Plan submitted by the Company in connection with the acquisition of Smaaash is subject to the terms of the LOI and requisite approvals from the Hon'ble National Company Law Tribunal and/or any other regulatory authority/courts/tribunal (as the case may be) under applicable laws.

Shares of Nazara Technologies Limited was last trading in BSE at Rs. 901.00 as compared to the previous close of Rs. 908.60. The total number of shares traded during the day was 87728 in over 5137 trades.

The stock hit an intraday high of Rs. 953.65 and intraday low of 895.35. The net turnover during the day was Rs. 82037792.00.

Source : Equity Bulls

Keywords

NazaraTechnologies INE418L01021 ResolutionPlan SmaaashEntertainment Approved CoC CIRP IBC