The National Company Law Tribunal (NCLT) has accepted an insolvency petition lodged by Chennai-based Wiz Logtec India Private Limited against Vivimed Life Sciences, a subsidiary of Strides Pharma Science Limited. The petition stemmed from Vivimed’s failure to settle a debt amounting to Rs 1.37 crore. Initiating the Corporate Insolvency Resolution Process (CIRP), Wiz Logtec cited Vivimed’s non-payment of Rs 1.21
