Two-thirds of lenders have voted for Dhanuka Laboratories' resolution

More than two-thirds of the lenders of Chennai-based Orchid Pharma are believed to have voted in favour of the resolution plan of Gurugram-based Dhanuka Laboratories, leading its bid to reach the National Company Law Tribunal (NCLT) for further proceedings, sources said. The banks are expecting a haircut of 35-40 per cent.

The resolution plan of Dhanuka Laboratories, among the three bidders, was discussed by the Committee of Creditors (CoC) and it was later taken to the banks for further decision-making. The voting by the lenders started on June 7 and ended on Tuesday. A banker, close to the development, said the