Chennai: The Chennai bench of National Company Law Tribunal’s (NCLT) has allowed insolvency resolution proceedings against founder and former MD of Orchid Pharma Ltd K Raghavendra Rao and his wife R Vijayalakshmi, the co-founder of the drugmaker, in their capacity as a personal guarantor for the company’s loans.
The proceedings come nearly six years after the company was transferred to Dhanuka Group through bankruptcy. The tribunal passed the order on October 16, 2026, and uploaded it to the NCLT website on October 27.
The order has initiated a separate process against Vijayalakshmi in the same order. According to the order, the demand including principle with interest and other penalties from Raghavendra and Vijayalakshmi is Rs…