Parenteral Drugs (India) Limited — Others, 24-01-2025: Corporate Insolvency Resolution Process

The Hon’ble NCLT, Mumbai has approved the resolution plan for Parenteral Drugs (India) Ltd. submitted by IHL Lifesciences Private Limited, which provides for delisting shares with NIL value. The resolution plan outlines payments including ₹3.4 Cr for CIRP costs and ₹57.55 Cr for secured creditors, translating to a recovery of 4.91%. This plan aims to revitalize the company, especially after a year of closure post-plant shutdown. Investors might view this as a strategic opportunity for stability, though the delisting could introduce elements of risk as the execution unfolds.