Cian Healthcare542678Subsidiary or JV

NCLT-approved resolution plan extinguishes entire share capital of Dr. Smiths Biotech; it ceases to be a subsidiary

NCLT approved the resolution plan of Dr. Smiths Biotech, a wholly owned subsidiary of Cian Healthcare, on September 23, 2026.

By ScoutQuest · Fri 23 Oct 2026, 8:17 PM IST · 2 min read

Consideration received: Nil
FY 2025-26 revenue from operations: NIL
FY 2025-26 net worth: ₹(987.00) lakhs

What the update says

Cian Healthcare has disclosed that its wholly owned subsidiary Dr. Smiths Biotech Private Limited was admitted into the Corporate Insolvency Resolution Process (CIRP) on an application shared by Small Industries Development Bank of India under Section 7 of the Insolvency and Bankruptcy Code, 2016, before the NCLT Mumbai Bench-III. The CIRP was admitted by order dated April 28, 2025. The NCLT, by its order dated September 23, 2026, approved the resolution plan submitted by Ananta Medicare Limited. That plan had earlier been approved by the Committee of Creditors with unanimous votes on December 25, 2025.

What changes now

Under the NCLT order read with the approved resolution plan, the entire existing equity share capital of Dr. Smith, including the equity shares held by Cian Healthcare, has been extinguished and cancelled with effect from October 23, 2026.
Dr. Smith therefore ceased to be a subsidiary of Cian Healthcare with effect from that date.
The update records that this followed the decision of the Implementation and Monitoring Committee dated October 23, 2026, which concluded at 03:50 P.M. (IST).

Consideration and the resolution applicant

Cian Healthcare receives Nil consideration; the equity shares it held in Dr. Smith were extinguished and cancelled without any payment under the approved plan.
The resolution applicant is Ananta Medicare Limited. The update states it is a holding company and a promoter of Cian Healthcare, and that it does not belong to the erstwhile promoter group of Dr. Smith.
The update states the cessation is not a related party transaction and did not arise from any agreement for sale; it follows from the NCLT order and the approved resolution plan.

The subsidiary's size in numbers (FY 2025-26)

Revenue from operations contributed by Dr. Smith: NIL.
Total income contributed: ₹1.03 lakhs, i.e. 0.03% of the consolidated total income of ₹2,946.87 lakhs.
Net worth contributed: ₹(987.00) lakhs, i.e. (115.63)% of the consolidated net worth of ₹853.60 lakhs. The update explains that the percentage exceeds 100% because the net worth contributed by Dr. Smith is negative.

The admitted claim

The financial creditor lodged a claim of ~INR 8.55 crore in the CIRP, of which ~INR 8.47 crore was admitted.

What the update tells an investor

For FY 2025-26, the subsidiary contributed no revenue from operations to the group and its contributed net worth was negative, as stated in the update.
Cian Healthcare's holding in Dr. Smith has been cancelled without any payment, and Dr. Smith is no longer a subsidiary of the company from October 23, 2026.