This disclosure is to place on record List of Creditors as required to be placed under Reg 13(2)(c) of IBBI CIRP Regulations
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Supha Pharmachem Ltd has disclosed its List of Creditors as required under IBBI CIRP Regulations, following the commencement of its Corporate Insolvency Resolution Process (CIRP) on 17 March 2026 by the NCLT Mumbai Bench. An Interim Resolution Professional (IRP) was appointed on the same date, and the company's Board of Directors' powers have been suspended under Section 17(1)(b) of the Insolvency and Bankruptcy Code. A total of 11 claims worth about Rs. 123.75 crore were received, of which roughly Rs. 41.19 crore has been provisionally admitted, with major claims from Income Tax (Rs. 23.08 crore admitted), operational suppliers like Chemino Pharma and Boston IVY Healthcare, and a related-party deposit from Apex Drugs (Rs. 27.43 crore, not admitted). The suspended directors are reportedly not cooperating with the IRP and have not handed over company records or control. The first meeting of the Committee of Creditors is scheduled for 14 April 2026, where a Resolution Professional will also be appointed.
For shareholders, this confirms the company is in a formal insolvency process, meaning existing equity could face significant dilution or even become worthless depending on the resolution plan. The non-cooperation of the suspended directors adds uncertainty and could delay or complicate the recovery for creditors, further weighing on the stock.