The Chennai Bench-II of the National Company Law Tribunal (NCLT) has started insolvency resolution proceedings against K Raghavendra Rao, founder and former managing director of Orchid Pharma, in his capacity as a personal guarantor for the drugmaker’s loans. That is nearly seven years after the company he built passed to new owners through bankruptcy.
The tribunal passed the order on October 16, 2026, and uploaded it to the NCLT website on October 27. It also started a separate process against Vijayalakshmi R, another personal guarantor of Orchid Pharma, by an order of the same date. According to public notices published under Section 102 of the Insolvency and Bankruptcy Code (IBC), both of them list the same address in…