Vivimed Labs Admitted to Corporate Insolvency Resolution Process

NCLT Bengaluru admits Vivimed Labs to CIRP under Section 9 of IBC 2016 for defaulting on an operational debt of ₹32.79 crore.
The debt stems from a 2019 civil court decree for unpaid goods supplied, with the company failing to honor subsequent payment undertakings.
The tribunal appoints an Interim Resolution Professional and declares a moratorium, prohibiting legal actions against the company.
The operational creditor, Blue Cube Germany, must deposit ₹2 lakh to cover initial CIRP expenses as ordered by the NCLT.