Venus Remedies has received approval from Corporate Debt Restructuring Cell (CDR Cell) for its CDR proposal. Consequently, the moratorium period of the repayments of the principal borrowings has been extended to two years with effect from April 1. 2014.
The lenders have also sanctioned financial assistance towards repayment commitments of FCCBs of the Company, due in February, 2015. With this, the company has concluded its financial restructuring. The implementation process of the CDR is underway.
Venus Remedies is a pharmaceutical manufacturing company. The company provides formulations in area of antibiotics and oncological therapeutics. The company has two manufacturing facilities located in India and Germany. It manufactures Oncological and Cefelosporine Injectable products.
