Supha Pharmachem 1st CoC Meeting Decisions; New RP Appointed

Supha Pharmachem Ltd. (formerly Remedium Lifecare Ltd.) held its 1st Committee of Creditors (CoC) meeting on April 14, 2026, following the commencement of its Corporate Insolvency Resolution Process (CIRP) on March 17, 2026. The CoC ratified the Interim Resolution Professional's (IRP) remuneration and CIRP expenses. Raju Mangilal Marshiya was approved as the Resolution Professional (RP), replacing the IRP who did not wish to continue. The CoC also approved the appointment and fees of a legal advisor, the RP's authority for bank account operations, and the estimated budget for the next six months. However, the suspended directors are not cooperating with the IRP in handing over control, records, and information, prompting the IRP to initiate legal action under Section 19(2) of the IBC.