Supha Pharmachem Faces Insolvency Over Rs 7.47 Crore Debt

Insolvency Filing Triggered by Debt The Mumbai bench of the National Company Law Tribunal (NCLT) has started insolvency proceedings against Supha Pharmachem, formerly known as Remedium Lifecare. This decision came after an operational creditor claimed Supha Pharmachem defaulted on Rs 7.47 crore for raw material payments. The tribunal acknowledged the debt, and an interim professional,…

Bankruptcy court admits BSE-listed Supha Pharmachem under Insolvency Resolution Process

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…