Intimation of receipt of Order from National Company Law Tribunal (NCLT)
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Supha Pharmachem Ltd has informed BSE about an NCLT Mumbai order dated 17.03.2026 that admitted an insolvency petition under Section 9 of the Insolvency and Bankruptcy Code against Remedium Lifecare Limited. The petition was filed by Boston Ivy Healthcare Solution Pvt Ltd, an operational creditor, claiming a default of Rs 7.47 crore (principal Rs 6.19 crore plus interest of Rs 1.28 crore) since 07.11.2023 against unpaid chemical supply invoices. The corporate debtor (Remedium Lifecare) ultimately admitted the debt and withdrew its objections, leading the tribunal to admit the application. A moratorium under Section 14 has been declared, and Mr. Rajesh Jhunjhunwala has been appointed as the Interim Resolution Professional (IRP). The management of Remedium Lifecare has now vested with the IRP, and CIRP proceedings have commenced.
This is a negative development as insolvency resolution has been formally initiated against Remedium Lifecare Limited, with a moratorium in place restricting asset transfers, legal actions, and recovery by creditors. If Supha Pharmachem is connected to Remedium Lifecare (group/related party), the stock could face selling pressure; if it is a creditor or unrelated, the direct impact on Supha Pharmachem shareholders may be limited but the disclosure signals potential credit/operational risk.