Sterling Biotech Bankruptcy
In this episode, Sucheta Dalal, Managing Editor of Moneylife, talks about the ongoing Sterling Biotech insolvency process.
This week, NCLT Mumbai, raised several objections while hearing the Sterling Biotech’s settlement plan and listed the case for next hearing on March 26. The pharmaceutical company has an outstanding debt of about Rs 8000 crore which was held by Gujarat based Sandesara Group - whose promoters are under investigation by security agencies including CBI, ED and SFIO.
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