Intimation for Admission of Co. under CIRP and appointment of IRP
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 3.5 pts less than Nifty Microcap 250 and 2.6 pts less than its Trading & Distributors peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The National Company Law Tribunal (NCLT), Mumbai Bench-VI, has admitted Supha Pharmachem Ltd into the Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016, via an order dated 17th March 2026. The insolvency petition was filed by Boston Ivy Healthcare Solution Private Limited, an operational creditor, over a default of Rs. 7.47 crore (including interest) dating back to 7th November 2023. A moratorium under Section 14 of the IBC has been declared, which freezes suits, asset transfers, and recovery actions against the company. Mr. Rajesh Jhunjhunwala has been appointed as the Interim Resolution Professional (IRP), and the powers of the Board of Directors now stand suspended and are vested with the IRP.
This is a significant negative event for shareholders — the stock is highly likely to face sharp selling pressure, and existing equity could be heavily diluted or wiped out depending on the resolution plan. All major decisions are now under the IRP's control, and recovery for equity holders is typically uncertain in such proceedings.