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Apex Court Orders Interim Stay on NCLAT Order on Orchid Pharma Resolution Process - (09 Dec 2019)


Apex Court has ordered an interim stay on the National Company Law Appellate Tribunal’s ruling on the resolution of debt-ridden Orchid Pharma. The NCLAT had set aside the National Company Law Tribunal’s approval of a resolution plan by Gurgaon-based Dhanuka Laboratories for Orchid and remitted the matter to the NCLT, observing that it quoted an amount below the liquidation value and could not be approved.


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