IBC Resolution Overrides FEMA Penalty; ₹8 Cr Fine on Orchid Pharma Quashed

Orchid Pharma Ltd. Vs Special Director (Appellate Tribunal Under SAFEMA Delhi)

IBC Resolution Plan Overrides FEMA Penalty-SAFEMA Tribunal Quashes ₹8 Cr Penalty Against Orchid Pharma After Change in Management

The SAFEMA Appellate Tribunal allowed the appeal of M/s Orchid Pharma Ltd. & set aside FEMA penalties imposed for alleged export-related contraventions, holding that post-IBC resolution the corporate debtor was entitled to immunity. The Enforcement Directorate had imposed penalties e

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