Background and Proceedings

  • Dr. Smiths Biotech Private Limited (Corporate Debtor) was admitted into Corporate Insolvency Resolution Process (CIRP) upon application by Small Industries Development Bank of India (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016.
  • The application was filed before the Hon'ble National Company Law Tribunal, Mumbai Bench-III (NCLT).
  • Admission order dated: April 28, 2025
  • Financial Creditor's claim: INR 8,55,34,648 (Rupees Eight Crore Fifty-Five Lakh Thirty-Four Thousand Six Hundred and Forty-Eight)
  • Admitted claim amount: INR 8,47,45,058

Resolution Plan Approval

  • The Hon'ble NCLT approved the resolution plan submitted by Ananta Medicare Limited (Successful Resolution Applicant) vide order dated September 23, 2026.
  • The resolution plan was previously approved by the Committee of Creditors with unanimous votes on December 25, 2025.

Implementation and Impact

  • The entire existing equity share capital of Dr. Smiths Biotech Private Limited, including equity shares held by Cian Healthcare Limited, has been extinguished and cancelled.
  • Effective date: October 23, 2026 (as per decision of Implementation and Monitoring Committee concluded at 03:50 P.M. IST)
  • Dr. Smiths Biotech ceased to be a subsidiary of Cian Healthcare Limited with effect from October 23, 2026.

Financial Contribution of Subsidiary (FY 2025-26)

Based on audited financial statements:

  • Revenue from operations contributed by Dr. Smith: NIL
  • Total income contributed by Dr. Smith: ₹1.03 lakhs (0.03% of consolidated total income of ₹2,946.87 lakhs)
  • Net worth contributed by Dr. Smith: ₹(987.00) lakhs [(115.63)% of consolidated net worth of ₹853.60 lakhs]

Transaction Details

  • No agreement for sale entered into (cessation via NCLT order)
  • No sale or disposal by the Company
  • No consideration received by Cian Healthcare Limited (equity shares extinguished without payment)
  • Expected completion date: Not applicable (already effective October 23, 2026)

Resolution Applicant Details

  • Name: Ananta Medicare Limited
  • Incorporation: Companies Act, 1956
  • Relationship: Holding company and promoter of Cian Healthcare Limited
  • Does not belong to erstwhile promoter group of Dr. Smiths Biotech Private Limited

Additional Information

  • The company will continue to update stakeholders and regulatory authorities of further material developments.
  • Disclosure signed by Rachit Malhotra, Company Secretary & Chief Compliance Officer (Membership No.: A39894)