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

The Hon’ble NCLT has approved the resolution plan proposed by IHL Lifesciences Private Limited for Parenteral Drugs (India) Ltd as part of its corporate insolvency resolution process (CIRP). The plan includes settling INR 57.55 crore (cr) for secured financial creditors and 100% payments for employee dues and EPFO obligations, signifying a 4.91% recovery rate for other creditors. Parenteral Drugs will be delisted following the resolution.

This development may positively influence investor sentiment as it indicates a structured approach to debt resolution, enhancing faith in the company's turnaround prospects. The resolution also reflects IHL Lifesciences' commitment to reviving operations, as evidenced by their operational history with the assets of Parenteral Drugs.