The Hon’ble NCLT has approved the resolution plan for Parenteral Drugs (India) Ltd., submitted by IHL Lifesciences Private Limited.

Under the plan, total claims of INR 1,17,93.09 lakh will see a recovery of approximately 4.91%, with a significant focus on operational creditors, receiving 100% of their claims.

The infusion of new equity will also occur, enhancing capital structure.

This development marks a hopeful turn for the company, potentially stabilizing operations and renewing investor confidence amid previous insolvency challenges.

Investors may view this as a positive outlook, with the business now poised for recovery and growth.