Vaish, IndiaLaw, L&L act on $160m Dhanuka Labs insolvency buy of Orchid Pharma

The resolution plan submitted by Dhanuka Laboratories Limited, a group company of Dhanuka Agritech Limited, to acquire Orchid Pharma Limited has been approved by NCLT, Chennai. Earlier, the resolution plan submitted by Ingen Capital LLC was annuled by NCLT, Chennai and a fresh round of bidding was ordered. Pursuant to which, Dhanuka Laboratories, Accord Life Spec, Covalent Laboratories submitted the insolvency resolution plan, according to reports.