NCLAT Directs Halt on Resolution Voting and Property Sales at Supha Pharmachem Ltd Till June 29, 2026
The National Company Law Appellate Tribunal (NCLAT), Principal Bench in New Delhi, has issued a protective order for Supha Pharmachem Limited, directing that the Committee of Creditors (CoC) shall refrain from voting on any Resolution Plan and no immovable property of the Corporate Debtor should be sold until June 29, 2026.The decision comes following an appeal filed by Medec Infra Private Limited, which challenged the Resolution Professional's determination regarding its status as a related party and subsequent exclusion from the Committee of Creditors (CoC). The matter pertains to Supha Pharmachem Ltd, formerly known as Remedium Lifecare Limited.
The appeal was heard by the Hon'ble NCLAT on May 22, 2026, in Company Appeal (AT) (Insolvency) No. 967 of 2026. While reviewing the case, which involved Medec Infra Private Limited versus Rajesh Jhunjhunwala (Interim Resolution Professional), the Tribunal observed that the matter was already scheduled to be heard before the Adjudicating Authority on June 29, 2026.
The NCLAT declined to entertain the appeal given the existing court schedule but issued specific interim directions intended to safeguard the interests of Medec Infra Private Limited until the date fixed for hearing.
Key directives issued by the Hon'ble NCLAT include:
| Directive | Scope | Deadline / Status |
|---|---|---|
| CoC Voting | The Committee of Creditors shall not vote on any Resolution Plan. | Until June 29, 2026 |
| Asset Sale | No immovable property of the Corporate Debtor shall be sold. | Until June 29, 2026 |
The Tribunal further noted that it remains open for Medec Infra Private Limited to seek interim relief before the Adjudicating Authority when the matter is heard again by that authority. Simultaneously, liberty was reserved for the respondent in the appeal to seek modification of the order if they feel aggrieved.
The Company is currently examining the implications of the NCLAT’s order and will provide updates on any further material developments related to this case.
Stock Price Movement
On Tuesday, shares of Supha Pharmachem Ltd settled at ₹0.31, ticking up 3.33% in post-market trading. The stock maintained a completely flat profile throughout the session, with both its high and low remaining fixed at ₹0.31.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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