NCLT Approves Asons Pharma's ₹834 Million Resolution Plan For Astral Steritech

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. Asons Pharma will pay ₹834.08 million to the creditors of Astral Steritech against total admitted claims of ₹2.67 billion.

The insolvency proceedings were initiated in 2024 after a petition filed by Piramal Critical Care Inc. Ltd. In February, the committee of creditors approved Asons Pharma’s resolution plan, with 93.5% of the voting in favour.

Astral Steritech's creditors include National Securities Depository Ltd., Aurobindo Pharma Ltd., Alembic Pharmaceuticals Ltd., Pfizer Ltd., and others. The company had a fair value of ₹887.67 million and a liquidation value of ₹614.64 million.