CHENNAI: The Chennai bench of the National Company Law Tribunal (NCLT) has admitted insolvency resolution proceedings against Orchid Pharma founder and former managing director K. Raghavendra Rao and his wife, company co-founder R. Vijayalakshmi, in their capacity as personal guarantors. The liability against both individuals stands at ₹256.29 crore, comprising principal, interest, and other penal charges linked to loans availed by the pharmaceutical company.
Moratorium Imposed and Claims Invited
Passed on October 16, 2026, and uploaded to the tribunal’s website on October 27, the NCLT order initiates separate insolvency resolution proceedings against Rao and Vijayalakshmi. The action…