Zydus Wellness Limited has informed the Exchange about update on Special Leave Petition filed against Zydus Wellness Products Limited, a wholly owned subsidiary
ZYDUSWELL · price
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Zydus Wellness Products Limited (ZWPL), a wholly owned subsidiary of Zydus Wellness, is engaged in an ongoing legal dispute with the Union of India over denial of budgetary support under a GST regime scheme when a partnership firm was converted into a company. The High Court of Sikkim had initially dismissed ZWPL's Writ Petition in September 2023, but the Division Bench overturned that ruling in December 2024 and directed the concerned authority to reconsider ZWPL's claims with a hearing within 12 weeks. Now, the Union of India has filed a Special Leave Petition (SLP) in the Supreme Court on June 4, 2025, challenging the Division Bench's favorable order. ZWPL was informed of this on July 3, 2025 and the company states it believes it has a strong case and will take necessary legal action.
This is a continuation of an existing tax-related legal matter involving a subsidiary. While the previous ruling was in ZWPL's favour, the Supreme Court challenge introduces uncertainty over the final outcome and the potential recovery of budgetary support. Investors should monitor further developments but the financial impact on the parent company is not immediately quantifiable at this stage.