Biocon Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
BIOCON · price
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Biocon Limited has received a Show Cause Notice (DRC-01) from the Office of the Deputy Commissioner of Commercial Taxes, Government of Karnataka, dated September 24, 2025. The notice proposes a total demand of approximately Rs. 2.02 crore, comprising tax of Rs. 81.39 lakh, interest of Rs. 1.13 crore, and penalty of Rs. 8.14 lakh, for financial year 2021-22. The issues raised relate to GST discrepancies including short declaration of outward supplies, non-payment of tax on corporate guarantee, input tax credit mismatches, and delayed payments to suppliers beyond 180 days. The company has stated there is no material impact on its financials and is in the process of taking appropriate action to respond to the notice.
The financial impact is expected to be limited and non-material for the company, but an adverse outcome could result in an additional outflow of around Rs. 2 crore plus any further interest. Shareholders should monitor the resolution, though the size of the demand is small relative to Biocon's overall operations.