Cian Healthcare Submits Resolution Plan for Wholly-Owned Subsidiary Dr. Smiths Biotech Under IBC

Cian Healthcare Limited has submitted a resolution plan for its wholly-owned subsidiary, Dr. Smiths Biotech Private Limited, before the National Company Law Tribunal (NCLT) through the e-filing portal. The plan was unanimously approved by the Committee of Creditors with the requisite voting share. The NCLT has admitted the petition submitted under Section 7 of the Insolvency and Bankruptcy Code, 2016, thus initiating the Corporate Insolvency Resolution Process (CIRP) for Dr. Smiths Biotech. Ms. Megha Agrawal has been designated as the Interim Resolution Professional (IRP) to oversee the company's operations and affairs during the CIRP.