NCLT approves Asons Pharma's resolution plan for Astral Steritech
This story was originally published at 18:48 IST on 9 June 2025
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NEW DELHI – The Ahmedabad bench of the National Company Law Tribunal has approved Asons Pharmaceuticals Pvt. Ltd.'s resolution plan for the debt-ridden Astral Steritech Pvt. Ltd. Under the plan, Asons Pharma will pay INR 834.08 million to the creditors of Astral Steritech against admitted claims of INR 2.67 billion.
In 2024, the tribunal had admitted a petition by Piramal Critical Care Inc. Ltd to start insolvency proceedings against Astral Steritech. Later in February, the committee of creditors of Astral Steritech approved Asons Pharma's resolution plan with 93.5% of the committee voting in favour.
The creditors of Astral Steritech include National Securities Depository Ltd., Aurobindo Pharma Ltd., Alembic Pharmaceuticals Ltd., Pfizer Ltd., and others. The fair value of Astral Steritech was INR 887.67 million and its liquidation value was INR 614.64 million. End
Reported by Surya Tripathi
Edited by Nishant Maher
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