NSE/BSE Codes: NSE: PANACEABIO, BSE: 531349

Summary of Key Information:

Nature of Event / Disclosure:

Regulatory disclosure under SEBI LODR Regulation 30 regarding receipt of Income Tax demand orders imposing penalty for alleged misreporting/under-reporting of income.

Involved Parties / Authorities:

  • Office of the Assistant Commissioner of Income Tax, Delhi
  • Income Tax Department under the Income Tax Act, 1961

Date / Timeline of Event:

  • Date of demand orders: September 28, 2026
  • Date of receipt by company: September 29, 2026
  • Assessment years involved: 2022-23 and 2023-24

Brief Description of Outcome / Dispute:

The company received two demand orders under Section 156 of the Income Tax Act, 1961, imposing penalty under Section 270A of the Act for alleged misreporting/under-reporting of income, resulting in aggregate demand of approximately ₹4.32 crore.

Impact of Outcome:

Financial Impact:

Based on the company's assessment, the demand of ~₹4.32 crore is not considered maintainable. The company states it does not envisage any significant impact on financial, operational or other activities.

Operational / Business / Strategic Impact:

No material operational or business impact disclosed. The company is taking necessary steps including filing an appeal with the appellate authority.

Other Implications:

No material reputational, legal, regulatory or market perception effects disclosed beyond the immediate tax dispute.

Next Steps / Required Actions:

The company is taking all necessary steps including filing an appeal with the appellate authority against the said demand.