Panacea Biotec Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
PANACEABIO · price
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Awaiting price reaction for this filing.
Panacea Biotec has received a fresh GST demand order dated July 10, 2025, from the Maharashtra State Tax authorities, raising a demand of ₹7.03 crore (including ₹2.51 crore interest and ₹64.80 lakh penalty). This follows the Bombay High Court's earlier ruling in January 2025, which set aside the original August 2024 demand of ₹5.74 crore and sent the matter back for fresh adjudication. The new demand is after adjusting ₹3.14 crore already deposited by the company under protest. The company states the demand is not maintainable and is evaluating the option of filing an appeal, and does not expect any material impact on its financial or operational activities.
While the new demand is higher than the original, the company is well-positioned to contest it legally, and management has stated no material impact on financials or operations. Shareholders should monitor the appeal process as a negative outcome could affect cash flows, though the already-deposited ₹3.14 crore under protest remains recoverable.