NCLT approves Reliance SBV’s Rs 202 crore resolution plan for Karkinos Healthcare

National Company Law Tribunal (NCLT), Mumbai has approved Reliance Strategic Business Ventures Limited’s Rs 202 crore resolution plan for Karkinos Healthcare Pvt. Ltd. (KHPL).

“We wish to inform that the National Company Law Tribunal, Mumbai Bench vide its order dated December 09, 2024, has approved the resolution plan submitted by Reliance Strategic Business Ventures Limited, a wholly owned subsidiary of the Company, for the resolution of Karkinos Healthcare Private Limited under the Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code, 2016,” said Reliance India Limited in its communiqué to BSE and NSE.

On May 21, KHPL entered the Corporate Insolvency Resolution Process. The plan provides for 100% recovery of dues across all creditor classes, including financial creditors, employees, and suppliers.

Reliance will settle debts and pay an additional Rs 150 crore to support Karkinos Healthcare’s operational revival and meet its working capital requirements.

Under the resolution plan approved by the Committee of Creditors (CoC), secured creditors receive Rs 37.59 crore, unsecured creditors are allocated Rs 65.12 crore, and operational creditors receive Rs 99.45 crore.

Founded by Dr. R. Venkataramanan, KHPL operates a Distributed Cancer Care Network (DCCN), offering early cancer detection, advanced diagnostics, affordable treatment, and cutting-edge research. The platform specializes in genomics, next-generation sequencing, and precision medicine, strongly focusing on collaborative research and clinical trials.

The company was incorporated on 24 July 2020 with the objective to build an end-to-end technology-driven oncology-focused and managed healthcare platform.
MB Bureau