Evoq Remedies Limited is now under Corporate Insolvency Resolution Process.

The National Company Law Tribunal admitted an application filed by M/s. Harbhole Agrotech, an operational creditor, over an unpaid advance of 1.95 Cr.

This advance was for goods (FSG Castor Oil) that were neither supplied nor refunded.

The NCLT has appointed Ms. Dipti Narayan Mundra as the Interim Resolution Professional and declared a moratorium.

This means legal actions against the company are halted, and its assets cannot be transferred, impacting future operations and shareholder value significantly.