Sharon Bio-Medicine: Corporate Insolvency Resolution Process (CIRP)-Approval of Resolution plan by Tribunal

This intimation is in reference to the captioned matter and in furtherance to our earlier corporate announcements made vide letters dated April 22 2023 and November 23 2022 wherein it was intimated that the Resolution Professional had filed an application (IA 3698/2022) before the Honble National Company Law Tribunal Mumbai Bench (Honble NCLT) for approval of the resolution plan under section 30(6) of the Insolvency and Bankruptcy Code 2016 (IBC) and the Honble NCLT vide its order dated April 12 2023 (copy of the order made available on April 21 2023) had reserved its order for pronouncement. In light of the same this is to inform and update you that the Honble NCLT on May 17 2023 has pronounced its orders approving the resolution plan by allowing our application i.e. IA 3698/2022 under section 31(1) of the IBC. It is pertinent to note that a copy of the order approving the resolution plan is still awaited.