SHARON BIO-MEDICINE LTD. - Corporate Insolvency Resolution Process (CIRP)-Approval of Resolution plan by Tribunal
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| 17 May 2023 | |
| This intimation is in reference to the captioned matter and in furtherance to our earlier corporate announcements made vide letters dated April 22, 2023 and November 23, 2022, wherein, it was intimated that the Resolution Professional had filed an application (IA 3698/2022) before the Hon'ble National Company Law Tribunal, Mumbai Bench ('Hon'ble NCLT') for approval of the resolution plan under section 30(6) of the Insolvency and Bankruptcy Code, 2016 ('IBC') and the Hon'ble NCLT vide its order dated April 12, 2023 (copy of the order made available on April 21, 2023), had reserved its order for pronouncement. In light of the same, this is to inform and update you that the Hon'ble NCLT on May 17, 2023, has pronounced its orders approving the resolution plan by allowing our application, i.e., IA 3698/2022 under section 31(1) of the IBC. It is pertinent to note that a copy of the order approving the resolution plan is still awaited. | |
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