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

Summary of Key Information:

Nature of Event / Disclosure:

Regulatory disclosure under Regulation 30 of SEBI LODR Regulations regarding receipt of four 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 Income Tax Act, 1961

Date / Timeline of Event:

  • Date of receipt of communication: September 26, 2026
  • Date of demand orders: September 25, 2026
  • Assessment years applicable: 2014-15 to 2016-17 and 2018-19

Brief Description of Outcome / Dispute:

The company received four 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 ₹9.82 crore.

Impact of Outcome:

Financial Impact:
  • Total penalty demand: ~₹9.82 crore
  • Based on company's assessment, the demand is not maintainable
  • Company does not envisage any significant impact on financial, operation or other activities
Operational / Business / Strategic Impact:

No significant operational or business impact anticipated as per company's assessment.

Other Implications:

The matter relates to alleged income reporting discrepancies for specific assessment years.

Next Steps / Required Actions:

  • Company is taking all necessary steps including filing an Appeal with appellate authority against the said demand
  • The appeal process will be initiated to contest the penalty orders