Key Developments
Panacea Biotec Limited has filed an appeal before the Hon'ble High Court of Punjab and Haryana, Chandigarh, on July 16, 2026, against the remaining fourth award received from the Industrial Tribunal, S.A.S. Nagar, Mohali. This follows three previous appeals filed against other awards from the same tribunal.
Background and Awards Details
The Company received four awards from the Presiding Officer (in the rank of Additional District Judge) of Industrial Tribunal, S.A.S. Nagar, Mohali on April 9, 2026. The awards include:
- Set aside transfer of 23 workmen and granted relief of full back wages from date of transfer
- Awarded reasonable wage revision for the workmen
- Awarded reinstatement of workers (other than those who settled disputes) with 50% back wages from date of termination
The period applicable for these communications is from 2014 onwards.
Legal Proceedings Update
The Hon'ble High Court has heard the three previously filed appeals and passed an interim order stating that no coercive steps be taken against the Company. The appeal against the fourth award was filed on July 16, 2026.
Financial Impact Assessment
Based on legal position/opinion, the Company believes the awards are challengeable and does not foresee any material adverse impact on its financial, operational, or other activities arising from these Awards.