Action(s) initiated or orders passed

The National Company Law Tribunal has admitted an insolvency application against FTF Pharma Private Limited, a wholly owned subsidiary of Shilpa Medicare Limited, ordering the commencement of the Corporate Insolvency Resolution Process.

The action stems from an operational debt claim of ₹2,18,03,319/-, resulting in the appointment of an interim resolution professional and a moratorium.

Shilpa Medicare is currently consulting legal advisors to evaluate its legal position and determine the next steps regarding the subsidiary's situation, with potential impacts on operations and financials remaining unquantifiable at this stage.