NCLAT sets aside NCLT order to liquidate Sterling Biotech

05 Sep 2019 Evaluate

The National Company Law Appellate Tribunal (NCLAT) has set aside the National Company Law Tribunal (NCLT) order to liquidate Sterling Biotech, and directed that the management should be handed over to its promoters if the dues of creditors are settled. Promoters of the company include absconding Nitin Jayantilal Sandesara and Chetankumar Jayantilal Sandesara.

Sterling Biotech is engaged in manufacturing of pharmaceutical and nutraceutical gelatin.

Peers
Company Name CMP
Tata Chemicals 1080.60
SRF 2557.55
Pidilite Inds. 3024.00
Aarti Inds 664.90
Gujarat Fluorochemic 3097.40
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