The bankruptcy court in Mumbai has admitted the listed pharma firm, Supha Pharmachem (formerly Remedium Lifecare), to the Corporate Insolvency Resolution Process (CIRP) and has appointed Rajesh Jhunjhunwala as the interim resolution professional (IRP) of the company.
Mumbai-based Supha Pharmachem’s operational creditor, Boston Ivy Healthcare Solution, had approached the National Company Law Tribunal (NCLT) after the company defaulted on its dues in November 2023.
The company is in the business of products and services, which includes the trading and sale of APIs and Intermediates to innovator and generic pharmaceutical players in both Domestic and International markets
Before the…