Calcutta HC: Award May Be Set Aside if Tribunal Rewrites Contract or Ignores Key Clauses  ||  Delhi HC Suspends Kuldeep Singh Sengar’s Life Term, Holding Section 5(C) of POCSO Not Made Out  ||  Calcutta High Court: Arbitration Clause in an Expired Lease Cannot be Invoked For a Fresh Lease  ||  Delhi High Court: 120-Day Timeline under Section 132B Of Income Tax Act is Not Mandatory  ||  NCLAT Reaffirms That Borrower's Debt Acknowledgment Also Extends Limitation Period for Guarantors  ||  NCLAT: Oppression & Mismanagement Petition Cannot Be Filed Without Company Membership on Filing Date  ||  Supreme Court Quashes Rajasthan Village Renaming, Says Government Must Follow its Own Policy  ||  NCLAT: NCLT Can Order Forensic Audit on its Own, No Separate Application Required  ||  NCLAT Reiterates That IBC Cannot be Invoked as a Recovery Tool for Contractual Disputes  ||  Delhi HC: DRI or Central Revenues Control Lab Presence in Delhi Alone Does Not Confer Jurisdiction    

NCLAT Sets Aside NCLT Order Approving Dhanuka's Bid for Orchid Pharma - (19 Nov 2019)

INSOLVENCY

National Company Law Appellate Tribunal has rejected the bid of Dhanuka Laboratories for the debt ridden Orchid Pharma, and vacated the order passed by the National Company Law Tribunal, Chennai which had earlier approved its resolution plan. The Appellate Tribunal observed that the approved resolution value, which stood at Rs 1,146.04 crore, proposed by Dhanuka Laboratories was lower than the liquidation value of Rs 1,309 crore of the company.

Tags : NCLAT   ORCHID PHARMA  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved