By: IPP Bureau
Last updated : April 11, 2025 10:46 am
The company has entered into above Memo to settle, compromise and finally and forever resolve all disputes
Orchid Pharma Limited has entered into a Joint Memo of Compromise with DBS Bank India Limited to conclude the prolonged dispute pending with National Company Law Tribunal, over the lease rentals of the property in possession of the company located at Patibulum Village, Kancheepuram District, Tamil Nadu owned by DBS Bank.
The company has entered into above Memo to settle, compromise and finally and forever resolve all disputes and claims that may exist with DBS Bank for the lease rentals from April 1, 2020 till December 31, 2024. Additionally, the company has entered into a lease agreement for the aforesaid property thereby mitigating the risk henceforth.