The resolution plan submitted by Dhanuka Laboratories Limited, a group company of Dhanuka Agritech Limited, to acquire Orchid Pharma Limited has been approved by NCLT, Chennai. Earlier, the resolution plan submitted by Ingen Capital LLC was annuled by NCLT, Chennai and a fresh round of bidding was ordered. Pursuant to which, Dhanuka Laboratories, Accord Life Spec, Covalent Laboratories submitted the insolvency resolution plan, according to reports.

Vaish Associates advised Dhanuka Laboratories Limited led by a team of partner Satwinder Singh, partner Rohit Jain, principal associate Kalpit Khandelwal, associate Shirin Singh, associate Mantika Hariyani.

Mumbai-headquartered firm IndiaLaw LLP led by partners Pradeep Joy and Vipin Warrier acted for the resolution professional of Orchid Pharma Limited.

Update 17 April 2020: L&L Partners advised the lenders of Orchid Pharma, led by State Bank of India, including a team of managing associate Avinash Subramanian and associate Anushka Bajpai. The transaction team was guided by partner Bikash Jhawar in structuring appropriate escrow mechanisms to resolve inter-creditor issues.

2019-06-25

Deal value: 1116 crores

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.