Supreme Court: Borrowers Retain Redemption Rights if Balance is Paid After Auction Deadline  ||  Supreme Court: Non-Confirmation of Seizure under Section 37A Impacts Adjudication Proceedings  ||  SC: Blacklisting After Contract Termination is Not Automatic and Needs Independent Review  ||  Grand Venice Fraud Case: Supreme Court Cancels Bail of Satinder Singh Bhasin  ||  SC: Senior Employee Cannot Claim Same Lesser Penalty As Subordinate; Bank Manager's Dismissal Upheld  ||  Madras HC: Governor Must Follow Cabinet's Advice on Remission Decisions, Regardless of Personal View  ||  Kerala High Court: Entrepreneurs Must Be Protected From Baseless Protests to Boost Industrial Growth  ||  J&K&L High Court: Second FIR Valid if it Reveals a Broader Conspiracy; 'Test of Sameness' is Key  ||  Supreme Court: Expecting a Minor to Respond to a Public Court Notice is ‘Perverse’  ||  SC: Order 23 Rule 1 CPC Applies to S. 11 Arbitration Act, Barring Fresh Arbiration After Abandonment    

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 2026 - All Rights Reserved