Supha Pharmachem: NCLT Appoints New RP, Board Powers Suspended Amid Insolvency

Mr. Raju Mangilal Marshiya has been appointed as the Resolution Professional (RP) for Supha Pharmachem Limited on May 11, 2026.
This appointment, approved by the National Company Law Tribunal (NCLT), signifies the transfer of control from the board to the RP for the Corporate Insolvency Resolution Process (CIRP).

Reader Takeaway: New RP appointed to manage insolvency; company's future hinges on resolution process.

What just happened (today’s filing)

The National Company Law Tribunal (NCLT) has approved the appointment of Mr. Raju Mangilal Marshiya as the Resolution Professional (RP) for Supha Pharmachem Limited.
This crucial order, received by the company on May 11, 2026, formally appoints Mr. Marshiya to lead the ongoing Corporate Insolvency Resolution Process (CIRP).
He replaces the Interim Resolution Professional (IRP), taking over the conduct and management of the company's insolvency proceedings.
The NCLT had initially issued the order for CIRP on April 30, 2026.

Why this matters

The appointment of a Resolution Professional signifies a critical stage in the insolvency process.
Mr. Marshiya will now steer Supha Pharmachem towards a potential resolution, which could involve restructuring, asset sale, or other measures to recover value for creditors.
Crucially, the powers of the company's Board of Directors remain suspended throughout this process, vesting all authority with the appointed RP.

The backstory (grounded)

Supha Pharmachem Limited is engaged in the manufacturing of pharmaceutical formulations and active pharmaceutical ingredients (APIs).
The company was admitted into the Corporate Insolvency Resolution Process (CIRP) by the NCLT Ahmedabad, indicating significant financial distress.

What changes now

• Mr. Raju Mangilal Marshiya has taken over full charge of Supha Pharmachem's CIRP.
• The existing Board of Directors' powers are now suspended.
• The RP will manage the company's day-to-day operations and explore resolution strategies.
• The BSE records are expected to be updated to reflect the new Insolvency Professional.

Risks to watch

• The company is undergoing Corporate Insolvency Resolution Process (CIRP), inherently indicating severe financial distress and operational challenges.
• The outcome of the CIRP remains uncertain and depends on the viability of resolution plans presented.

Peer comparison

This news pertains to a specific insolvency event rather than operational performance, making direct financial peer comparison less relevant at this juncture.

Context metrics (time-bound)

(No relevant context metrics available from filing for this section).

What to track next

• Actions and proposed plans by the new Resolution Professional.
• Updates from the Committee of Creditors (CoC) regarding resolution progress.
• The official update of Supha Pharmachem's records with the BSE.
• Any potential bids or expressions of interest from resolution applicants.