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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Panacea Biotec has received a demand order dated March 30, 2026 from the Joint Commissioner, CGST Sub-Commissionerate Mohali, raising a total demand of about ₹22.88 crore. This includes ~₹11.44 crore of alleged unpaid GST plus a similar amount as penalty. The demand relates to GST the authorities say was not paid on a corporate guarantee of ₹864 crore given by the company over 1,074 days between April 6, 2019 and March 15, 2022. The company had earlier filed a writ petition in the Punjab and Haryana High Court in November 2025, and the court has already granted an interim stay so that no coercive action can be taken. The company has filed its response to the original show cause notice and says the demand is not maintainable, and plans to take further legal steps.
For shareholders, the demand is double the original GST claim because of the equal penalty, but the company's operations and financials are not expected to be hit as the High Court stay prevents any coercive action while the company fights the order. The outcome of the writ petition will be a key event to watch — an adverse ruling could lead to a material cash outflow.