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Avisory to Resolution Professional of Apex Drugs Limited in the matter of failure by Resolution Applicant to abide by the terms of the approved Resolution Plan.

Avisory to Resolution Professional of Apex Drugs Limited in the matter of failure by Resolution Applicant to abide by the terms of the approved Resolution Plan.

Dhir & Dhir Associates recently represented the Resolution Professional in the matter of Apex Drugs Ltd. through video conferencing before NCLT, Hyderabad seeking directions against the Resolution Applicant i.e., Orbit Electro Equipment Pvt. Ltd. The matter pertained to non-adherence to the terms of the approved resolution plan by the Resolution Applicant. The Resolution Applicant requested additional time to make payment. The NCLT, Hyderabad taking note of the hardships faced by RP in maintaining the plant and machinery and delay by Resolution Applicant, directed the Resolution Applicant to pay all the costs of the period of delay within a week and posted the matter for further hearings.

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