Orchid Pharma has announced that the National Company Law Tribunal (NCLT) has dismissed a legal claim filed by DBS Bank (formerly Lakshmi Villas Bank). The bank had initiated proceedings seeking lease rent payments related to the Corporate Insolvency Resolution Process (CIRP) period. The tribunal ruled in favor of the company, and the order was officially pronounced on April 2, 2026, with the details becoming available on April 10, 2026.
Tribunal Ruling on Lease Claims
The Chennai Bench of the National Company Law Tribunal has officially closed a dispute concerning historical lease obligations. The legal action, originally brought forward by DBS Bank, sought the recovery of lease dues that the bank claimed were owed during the company’s insolvency resolution process. Following a review of the application, the tribunal has formally dismissed the case.
Impact on Operations
The dismissal of this claim results in nil impact on the company’s current financial position, ongoing operations, or future business activities. With the closure of this legal matter, the company continues its focus on its core pharmaceutical operations without any further liability related to this specific claim. The order, which brings finality to this particular application, was confirmed through a court proceeding held via video conferencing on April 2, 2026.
Source: BSE
