GlaxoSmithKline Pharmaceuticals Limited has informed stock exchanges about receiving a significant tax demand from income tax authorities. The pharmaceutical company disclosed the development under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015.

Tax Demand Details

The company received a Final Order from the Assistant Commissioner of Income Tax (ACIT) Circle 7(1)(1) with a demand liability of Rs 23.21 crore. The demand pertains to Assessment Year 2023-24 and was issued by the Centralized Processing Centre (CPC) following a scrutiny assessment.

Company's Response Strategy

GlaxoSmithKline Pharmaceuticals has indicated its intention to challenge the assessment order through proper legal channels. The company is in the process of filing an appeal before the appellate authority to contest the demand.

Financial Impact Assessment

According to the company's disclosure, there is currently no impact on the financial statements. The pharmaceutical major emphasized that it is contesting the assessment order, suggesting confidence in its position regarding the tax demand.

Regulatory Compliance

The disclosure was made to both BSE Limited and the National Stock Exchange of India Limited on March 24, 2026. The communication was signed by Ajay Nadkarni, Vice President – Administration, Real Estate & Company Secretary, ensuring proper corporate governance protocols were followed in informing stakeholders about this material development.

GlaxoSmithKline Pharmaceuticals Limited has announced the resignation of Mr. Juby Chandy from his dual roles as Whole-Time Director and Chief Financial Officer. The resignation became effective from the close of business hours on March 11, 2026, following his appointment to a senior regional position within the GSK group.

Leadership Transition Details

The pharmaceutical company disclosed Chandy's departure through a regulatory filing dated March 16, 2026, submitted to both BSE Limited and the National Stock Exchange of India Limited. The disclosure was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Career Advancement Within GSK Group

Chandy's resignation stems from his appointment as Finance Head for the Asia Pacific region at GSK, representing a significant career advancement within the global pharmaceutical organization. In his resignation letter dated March 2, 2026, addressed to the Board of Directors, Chandy requested the Board to complete necessary filings with relevant Government Authorities and regulatory bodies.

Acknowledgment and Transition

The outgoing CFO expressed sincere gratitude to the Board of Directors and Managing Director for their support and guidance throughout his tenure. Chandy described his service to the organization as a privilege and extended wishes for GSK India's continued growth and success.

The company secretary, Ajay Nadkarni, Vice President – Administration, Real Estate & Company Secretary, signed the regulatory disclosure on behalf of GlaxoSmithKline Pharmaceuticals Limited. The filing referenced an earlier announcement dated March 2, 2026, indicating the company had previously communicated about this leadership change.

Regulatory Compliance

GlaxoSmithKline Pharmaceuticals Limited, incorporated in 1924 with CIN L24239MH1924PLC001151, ensured full compliance with SEBI Listing Regulations by promptly disclosing the senior management change. The company maintains its headquarters at GSK House, Dr. Annie Besant Road, Worli, Mumbai, and continues its operations under the new leadership structure.