Business »  Topic »  NCLT okays Dhanuka’s resolution plan for Orchid Pharma

NCLT okays Dhanuka’s resolution plan for Orchid Pharma


While the resolution was voted by CoC with 67.07% voting share, with the change, the voting share for the resolution plan, had come down to 65.53%- against the required percentage of 66%.

The Chennai bench of the National Company Law Tribunal (NCLT) has okayed the resolution plan by Dhanuka Laboratories, rejecting a plea against it by Accord Life Spec – another resolution applicant which cited inadequate mandatory vote share of the committee of creditors (CoC).

According to the Dhanuka plan, the creditors will get around Rs 1,116 crore including Rs 570 crore quoted by Dhanuka Lab. Orchid’s ...


Read the full text financialexpress