Bankruptcy Court approves listed-firm parental drugs India’s acquisition by IHL Lifescience

The Mumbai bankruptcy court has approved IHL Lifesciences' acquisition of Parental Drugs India Ltd. The resolution plan received 100% approval from the creditors. IHL Lifesciences will pay Rs 90 crore to acquire the company, which has liabilities of Rs 1,287 crore. This acquisition comes after Parental Drugs defaulted on a Rs 196 crore payment to Punjab National Bank.

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