Sterling Biotech announced the initiation of Corporate Insolvency Resolution Process by NCLT with effect from 11 June 2018. Sundaresh Bhat has been appointed as the Interim Resolution Professional and as such the powers of the board are suspended and shall be exercised by the IRP.

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Sterling Biotech announced that the Annual General Meeting (AGM) of the company will be held on 30 September 2017.

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Sterling Biotech announced that the the Board of Directors of Sterling Biotech ('Company ') held on 28 August 2017, in view to raise the resources for the purpose of meeting general corporate purposes, Augment the long term resources for long term financial needs of the company including payment of over dues and refinancing of the existing debt, Board of the Directors of the Company has recommended issue of unlisted 8% Redeemable Cumulative Non Participating and Non Convertible preference shares carrying no voting rights subject to the consent of members of the company and other requisite approvals.

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Net Loss of Sterling Biotech reported to Rs 109.50 crore in the quarter ended June 2017 as against net loss of Rs 87.54 crore during the previous quarter ended June 2016. Sales declined 0.06% to Rs 94.82 crore in the quarter ended June 2017 as against Rs 94.88 crore during the previous quarter ended June 2016.

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