Syngene International Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
SYNGENE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Syngene International informed exchanges that the National Faceless Assessment Centre passed an order on March 13, 2026 dropping the penalty proceedings linked to a Rs. 2.78 crore expense disallowance for Assessment Year 2018-19. The matter traces back to a March 2023 assessment order where expenses of Rs. 2,78,45,669 were disallowed and a penalty notice was issued. Syngene appealed, and the National Faceless Appeal Centre in February 2025 directed relief, which the Assessing Officer gave effect to in September 2025. With the latest order, the accompanying penalty proceedings have been formally dropped. The company has stated there is no material financial or operational impact and no penalty, restriction, or sanction has been imposed.
Positive for shareholders — the tax penalty risk that had been hanging over Syngene for AY 2018-19 has now been fully resolved in the company's favour, with no out-of-pocket financial hit expected.