Ipca Laboratories gets NCLT approval for acquisition of Noble Explochem

Ipca Laboratories announced that the National Company Law Tribunal (NCLT), Mumbai Bench on 22 January, 2020 has approved the Resolution Plan submitted by the Company for acquisition of Noble Explochem under the Insolvency & Bankruptcy Code, 2016 (IBC).

As per the approved Resolution Plan, the Company shall pay Rs. 69 crore as full and final settlement towards all liabilities of Noble Explochem, secured or unsecured, known or unknown, contingent or otherwise, disputed or undisputed, present or future, towards its financial creditors, insolvency resolution process cost, operational creditors and workmen and employees.

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