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NCLT clears Mantra Properties buyout of Mulund project ending insolvency uncertainty
Economy
Published on 2 May 2026
Two secured creditors hold nearly equal stakes
NCLT has approved Mantra Properties’ buyout related to its Mulund project, following the company’s corporate insolvency resolution process that began in July 2023. The move comes on a plea by Beacon Trusteeship Ltd, with two secured creditors sharing control—Beacon Trusteeship at Rs 902 crore and 60.54%, and ARCIL at Rs 589 crore and 39.46%.
- NCLT approves Mantra Properties’ Mulund project buyout
- CIRP began in July 2023 after a creditor petition
- Beacon Trusteeship leads with 60.54% committee share
- ARCIL is the other major secured creditor with 39.46%
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times