Orchid Pharma Limited has informed the Exchange regarding 'Intimation under Regulation 30 of SEBI Listing Regulations- Hon'ble NationalCompany Law Tribunal order to dispose-off dispute on Lease Rentals with DBSBank India Limited.'.
ORCHPHARMA · price
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Orchid Pharma informed the exchanges that the National Company Law Tribunal (NCLT), Chennai bench, has passed an order disposing off a prolonged dispute with DBS Bank India Limited over lease rentals for a property in Kancheepuram, Tamil Nadu. The parties had already filed a joint memo of compromise on April 29, 2025, to settle the matter. NCLT formally closed one of the two related applications (IA(IBC)/700/CHE/2022) on June 2, 2025, while listing the second application (IA(IBC)/784/CHE/2020) for further hearing on August 8, 2025. This is a follow-up to the company's earlier intimation dated April 9, 2025.
This is a positive development as it marks the formal closure of one part of a long-pending legal dispute with DBS Bank through a negotiated settlement, reducing legal uncertainty and potential financial liabilities for Orchid Pharma. Shareholders can view this as progress in cleaning up legacy legal matters, though one related application still remains pending for hearing.