Orchid Pharma Limited has informed the Exchange about Action(s) taken or orders passed
ORCHPHARMA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The National Company Law Tribunal (NCLT), Chennai Bench has dismissed an interim application filed by DBS Bank (formerly Lakshmi Vilas Bank) seeking lease dues for the Corporate Insolvency Resolution Process (CIRP) period. The order was pronounced on April 2, 2026, and made available on April 10, 2026. DBS Bank had filed the application claiming lease dues and insolvency resolution process costs under relevant sections of the Insolvency and Bankruptcy Code, 2016. The NCLT Division Bench dismissed the application, ruling in favor of Orchid Pharma. The company has stated that the impact on its financial, operational, or other activities is nil.
Positive for Orchid Pharma as the dismissal removes a potential financial liability related to lease claims during its earlier insolvency proceedings. The company successfully defended against the claim without any quantifiable impact on its operations.