Sintex Plastics Technology Ltd. said the National Company Law Tribunal (NCLT) approved True Guard Realcon Private Ltd.’s resolution plan for its material subsidiary.

The Ahmedabad bench of NCLT approved the resolution plan submitted by True Guard Realcon (Welspun Group) for Sintex Prefab and Infra Ltd., the company said in a stock exchange announcement today.

The NCLT pronounced its order on 21 December, according to the statement. It didn’t provide more details.