Disclosure Context

This is a regulatory disclosure made to BSE Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding an order passed by the National Company Law Appellate Tribunal (NCLAT).

NCLAT Order Details

The National Company Law Appellate Tribunal, Principal Bench, New Delhi, passed an order dated 22nd May 2026 in Company Appeal (AT) (Insolvency) No. 967 of 2026 titled Medec Infra Private Limited vs. Rajesh Jhunjhunwala, Interim Resolution Professional of Supha Pharmachem Limited.

Nature of Appeal: Medec Infra Private Limited filed an appeal challenging the decision of the Resolution Professional treating the appellant as a related party and consequently excluding it from the Committee of Creditors (CoC). The appellant claimed to be "the only Financial Creditor in the CoC."

Previous Proceedings: The appeal was filed against order dated 04.05.2026 in I.A No.1044 of 2026, where interim relief prayers were not considered, and the matter was fixed for hearing on 29.06.2026.

NCLAT Decision and Interim Directions

The Hon'ble NCLAT disposed of the appeal with the following observations and directions:

  • The appeal was not entertained since the matter is already listed before the Adjudicating Authority on 29th June 2026.
  • To protect the interest of the appellant, the NCLAT directed that until 29th June 2026:
  • The Committee of Creditors shall not vote on any Resolution Plan
  • No immovable property of the Corporate Debtor shall be sold
  • It shall be open to the appellant to seek interim relief before the Adjudicating Authority
  • Liberty was reserved to the respondent to seek modification of the order if aggrieved

Company Response and Next Steps

The Company is examining the implications of the aforesaid order and shall keep the Stock Exchanges informed of any further material developments in this matter.

Compliance Details

The disclosure includes details as required under SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, which are enclosed as Annexure A (not provided in the source text).