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Vivimed Labs Files for Pre-pack Insolvency (PPIRP) Over ₹512.53 Crore Default
Vivimed Labs Limited has formally filed an application for the initiation of a Pre-packaged Insolvency Resolution Process (PPIRP) under Section 54A of the IBC Act. The application was submitted to the NCLT Bengaluru Bench on February 12, 2026, following a massive debt default. As of January 31, 2026, the company reported a total default amount of ₹512.53 crores. This legal step indicates severe financial distress and a formal attempt to restructure its liabilities through the insolvency framework.
Key Highlights
Filed for Pre-pack Insolvency Resolution Process (PPIRP) with NCLT Bengaluru on February 12, 2026.
Total default amount stands at ₹512,53,06,756 (approximately ₹512.53 crores) as of January 31, 2026.
The application was filed under Section 54A of the Insolvency and Bankruptcy Code (IBC) Act.
This follows previous financial distress intimations dated November 13, 2025, and January 10, 2025.
💼 Action for Investors
Investors should exercise extreme caution as insolvency proceedings typically result in significant equity dilution or total loss for shareholders. It is advisable to monitor NCLT's admission of the case and any subsequent resolution plans that may impact the company's listing status.
Vivimed Labs Secures High Court Stay on CBI Proceedings and SBI 'Fraud' Classification
Vivimed Labs has obtained an interim stay from the Telangana High Court against all further proceedings following a CBI search and seizure conducted on January 20, 2026. The legal action was triggered by State Bank of India (SBI) classifying the company's account as 'fraud', a move the court noted was already suspended in a previous writ petition. The court has restrained the CBI from taking any coercive steps against the company or its directors until further orders. While the stay provides temporary relief, the underlying fraud allegations by a major lender remain a significant risk factor.
Key Highlights
Telangana High Court granted interim stay on February 6, 2026, against CBI search and seizure actions.
The CBI raid on January 20, 2026, was based on a complaint by State Bank of India (SBI) regarding 'fraud' classification.
Court noted that the 'fraud' classification was already suspended in a prior legal proceeding (W.P.No.24697 of 2025).
The High Court has scheduled the next hearing for the matter on March 6, 2026.
💼 Action for Investors
Investors should exercise extreme caution as the company faces serious fraud allegations from lenders despite the current legal stay. Closely monitor the next court hearing on March 6, 2026, for updates on the investigation's status.
Vivimed Labs CFO Phaninder Nath P S Resigns Effective February 6, 2026
Vivimed Labs Limited has announced the resignation of its Chief Financial Officer, Mr. Phaninder Nath P S, effective from the close of business hours on February 6, 2026. The resignation is attributed to personal health issues that have reportedly aggravated over the last few weeks. Consequently, he will also cease to be a Key Managerial Personnel (KMP) and Senior Management Personnel (SMP) of the company. The company will now need to initiate the process of appointing a successor to maintain financial leadership and oversight.
Key Highlights
CFO Phaninder Nath P S resigned effective February 6, 2026
Resignation is due to personal health issues aggravating over recent weeks
Cessation of role as Key Managerial Personnel (KMP) and Senior Management Personnel (SMP)
The company must now identify and appoint a new CFO to ensure financial continuity
💼 Action for Investors
Investors should monitor the company's subsequent announcements regarding the appointment of a new CFO to ensure a smooth transition. While the resignation is for personal reasons, any delay in finding a qualified replacement could impact financial reporting timelines.
CBI Issues Notice to Vivimed Labs CFO and CS Over SBI Financial Irregularities Complaint
Vivimed Labs' Chief Financial Officer and Company Secretary have received a formal notice from the CBI's Banking Securities Fraud Branch following a complaint by State Bank of India (SBI). The investigation pertains to alleged financial irregularities within the company. This follows a prior development where Rare Asset Reconstruction Ltd (Rare ARC) acquired the company's financial assets and debt from SBI in October 2025. The company remains liable to Rare ARC for all outstanding dues, interest, and contractual charges.
Key Highlights
CBI Banking Securities Fraud Branch issued notice to CFO and CS on January 27, 2026.
Investigation initiated based on a complaint by State Bank of India regarding financial irregularities.
Rare Asset Reconstruction Ltd acquired SBI's financial assets in the company as of October 25, 2025.
Rare ARC is now the primary entity entitled to recover total dues and interest from Vivimed Labs.
The notice was officially communicated to the company via email on January 29, 2026.
💼 Action for Investors
Investors should exercise extreme caution as a CBI investigation into financial fraud is a high-risk event that often leads to severe reputational and operational damage. The transfer of debt to an Asset Reconstruction Company further highlights the company's distressed financial position.
Vivimed Labs Seeks Shareholder Approval for Pre-Packaged Insolvency Resolution Process
Vivimed Labs Limited held an Extraordinary General Meeting (EGM) on December 10, 2025, to seek approval for a Special Resolution to initiate a pre-packaged insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. The remote e-voting for this critical decision was conducted between December 7 and December 9, 2025. This move indicates significant financial distress and a formal attempt to restructure the company's debt and obligations. The final voting results, which will determine the company's legal path forward, are expected to be released shortly.
Key Highlights
Special Resolution proposed to initiate pre-packaged insolvency resolution process under the IBC, 2016.
Extraordinary General Meeting (EGM) held on December 10, 2025, via Video Conferencing.
Remote e-voting period conducted from December 7 (9:00 AM) to December 9 (5:00 PM), 2025.
Management addressed shareholder queries regarding the insolvency application during the 30-minute meeting.
Final voting results to be declared and submitted to stock exchanges following the Scrutinizer's report.
💼 Action for Investors
Investors should be extremely cautious as insolvency proceedings often result in significant equity dilution or total loss of value for shareholders. It is advisable to wait for the final voting results and subsequent NCLT updates before making any further investment decisions.