Coral Laboratories Limited has received a formal notice under the Micro, Small and Medium Enterprises Development Act, 2006, regarding a payment dispute with a vendor. The pharmaceutical company disclosed this development to BSE on April 27, 2026, in compliance with SEBI listing regulations.

Notice Details and Authority

The Micro and Small Enterprises Facilitation Council (MSEFC) in Surat issued the notice under Section 18 of the MSMED Act, 2006. The reference case has been assigned number ED-2026-0016057 OF 2026 and involves allegations of non-receipt of payments by the petitioner.

Financial Impact and Claims

The dispute centers around contractual claims arising from work execution, with specific allegations related to payment delays. The financial implications of this notice are detailed below:

Nature of Dispute

The allegations involve multiple aspects of the contractual relationship between the parties. Key areas of contention include:

• Alleged non-receipt of payments for executed works
• Various contractual claims related to project execution
• Disputes over scope, billing and related operational issues
• Payment terms and settlement matters

Company's Response and Position

Coral Laboratories has maintained a clear stance regarding the allegations. The company believes the claims lack merit and has outlined its response strategy. Management stated they are currently reviewing the matter comprehensively to determine appropriate legal steps.

The company's position emphasizes that the claims are not tenable, indicating confidence in their contractual compliance. This suggests the dispute may involve differing interpretations of contract terms or execution standards rather than clear-cut payment defaults.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided comprehensive details as required under the applicable SEBI circular dated July 13, 2023, ensuring full transparency with stakeholders regarding potential legal proceedings.

While the financial impact cannot be ascertained at this stage according to the company's assessment, the relatively modest claim amount of ₹204,853.20 suggests limited material impact on the company's overall financial position. The company continues to evaluate the matter as legal proceedings may develop.

Coral Laboratories Limited has announced the appointment of Mr. Diwakar Unnikrishna Menon as Company Secretary and Compliance Officer, marking a significant addition to the company's leadership team. The appointment was formally approved by the Board of Directors during their meeting held on April 23, 2026.

Board Meeting Details

The Board of Directors convened at the company's registered office located at 3B, Patanwala Compound, Opp. Shreyas Cinema, L.B.S. Marg, Ghatkopar (W), Mumbai- 400086. The meeting commenced at 11:48 a.m. and concluded by 12:05 a.m. on the same day. The appointment was made based on the recommendation of the Nomination and Remuneration Committee.

Appointment Particulars

Professional Background

Mr. Menon brings substantial expertise to his new role, with qualifications including Company Secretary certification, degrees in Commerce and Law, and a Master of Labour Studies. His extensive professional background spans over 33 years in the field of compliance, legal, and industrial safety and environment.

During his career tenure, Mr. Menon has worked with several reputed organizations, including the Godrej group and L&T group, providing him with comprehensive experience in corporate governance and regulatory compliance.

Regulatory Compliance

The company has confirmed that Mr. Menon is not debarred from holding office by virtue of any SEBI Order or any other regulatory authority. This appointment aligns with the requirements under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The disclosure was made in the prescribed format under Regulation 30 read with Schedule III of the SEBI Listing Regulations and SEBI Master Circular dated January 30, 2026. The announcement was signed by Sushma Kadkade, Director & CFO (DIN: 07791735), on behalf of Coral Laboratories Limited.