NCLT Hyderabad Clears Resolution Plan: Beaufond Industries to Acquire Kobo Biotech as Going Concern

Landmark approval under IBC, 2016 paves way for Beaufond Industries Limited to integrate Kobo Biotech Limited, strengthening its footprint in pharma and biotech innovation

Hyderabad, May 11, 2026 — The National Company Law Tribunal (NCLT), Hyderabad Bench-I, today approved the Resolution Plan submitted by Beaufond Industries Limited for the acquisition of Kobo Biotech Limited (Corporate Debtor), bringing the Corporate Insolvency Resolution Process (CIRP) of the Hyderabad-based biotech company to a successful conclusion.

The order was pronounced by a bench comprising Shri Rajeev Bhardwaj, Member (Judicial), and Shri Sanjay Puri, Member (Technical), in IA (IBC) (Plan) No. 01/2026 in CP (IB) No. 277/7/HDB/2023.

BACKGROUND

The CIRP of Kobo Biotech Limited was initiated on August 13, 2024, following the admission of a petition filed by financial creditor JM Financial Asset Reconstruction Company Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). Ms. Namrata Amol Randeri served as the Resolution Professional (RP) overseeing the process.

RESOLUTION PLAN DETAILS

The Committee of Creditors (CoC) — comprising JM Financial Asset Reconstruction Company Limited (99.12% voting share) and Omkara Assets Reconstruction Private Limited (0.88%) — unanimously approved the Resolution Plan submitted by Beaufond Industries Limited with 100% voting share at its 20th CoC meeting held on March 17, 2026.

ABOUT BEAUFOND INDUSTRIES LIMITED

Beaufond Industries Limited is a publicly listed company incorporated on September 16, 2023, engaged in industrial and biotech investment activities with a focus on pharmaceuticals, chemicals, and industrial processing. The company reported a net worth of approximately Rs. 333.28 Crores for FY 2024-25.

BIL is a subsidiary of Beaufond Plc, a company with over 3.01 Bn USD turnover , Capital & Reserve of over 897 Mn usd, majorly owned by Nomas Global Investments LLC-SPC — a Special Purpose Company wholly owned by H.H. Shaikh Mohammed Bin Sultan Bin Hamdan Al Nahyan of the Abu Dhabi ruling family.

TRANSACTION STRUCTURE

The Resolution Plan envisages a composite three-step restructuring:

• Amalgamation of Beaufond Industries Limited (Transferor) into Kobo Biotech Limited (Transferee), with Kobo Biotech as the surviving entity and all assets and liabilities transferred accordingly.
• Demerger of the Active Pharmaceutical Ingredients (API) business into a newly incorporated Resulting Company, on a going concern basis, with all associated assets, liabilities, licenses, and employees.
• Renaming of the surviving entity from Kobo Biotech Limited to “Beaufond Limited”, which will primarily hold assets in Telangana.

An alternative Slump Sale Mechanism is also provided as a fallback in the event of regulatory impediments to the Composite Scheme.

NCLT’S FINDINGS

The Tribunal, after examining the application and hearing the Counsel for the Resolution Professional, was satisfied that the Resolution Plan meets all requirements under Section 30(2) of the IBC and Regulations 37, 38, 38(1A), and 39(4) of the CIRP Regulations, and that Beaufond Industries Limited is eligible under Section 29A of the Code.

The moratorium under Section 14 of the IBC stands lifted with immediate effect.