REGULATORY · COMPETITIVE · INDIA
NCLT admits Supha Pharmachem to CIRP
Change
The NCLT Mumbai bench admitted Supha Pharmachem into the Corporate Insolvency Resolution Process.
Why it matters
The tribunal appointed an interim resolution professional who will take over management and call for claims from creditors. Secured financial creditors will form a committee of creditors to decide the resolution path. This restricts the company’s independent management actions and requires creditors to submit claims for verification and collation.
Implications · Who is affected · What to watch
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