Indrayani Biotech tribunal quashes assessment order dated March 26, 2025

Indrayani Biotech Limited announced that the Income Tax Appellate Tribunal has quashed the assessment order dated March 26, 2025. The tribunal issued an order on July 14, 2026, setting aside the previous ruling of the First Appellate Authority dated March 09, 2026. The matter has been restored to the file of the First Appellate Authority for fresh adjudication.

The company had challenged the Assessment Order before the First Appellate Authority and subsequently appealed the First Appellate Authority's order to the Income Tax Appellate Tribunal via Income Tax Appeal No. 1429/CHNY/2026. The tribunal heard contentions from both the company, as the appellant, and the Income Tax Officer, as the respondent, before delivering its verdict.

Tax Litigation Status

The disclosure regarding the tax litigation update was submitted in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The following table details the status of the dispute:

Sr. No.	Name of the opposing party	Date of initiation of the litigation/dispute	Status of litigation/dispute as per last disclosure	Current status of the litigation/dispute
1.	The Income Tax Officer	March 09, 2026	Ongoing	Culminated

The intimation was signed by G. Swaminathan, Whole Time Director of Indrayani Biotech Limited, and addressed to the Manager of the Listing Department at BSE Limited.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.58%	+3.09%	-27.27%	-23.66%	-48.09%	-20.71%

Indrayani Biotech Ltd has postponed the schedule of its partly paid-up rights issue until further notice. The Rights Issue Committee took this decision at a meeting held on June 22, 2026. The company had previously finalized the issue schedule and terms in earlier communications on April 09, 2026, and May 25, 2026.

The rights issue was initially scheduled to open on Wednesday, May 27, 2026, and close on Thursday, June 25, 2026. This timeline was subsequently extended to close on Friday, July 24, 2026. However, the entire schedule now stands postponed. The revised opening and closing dates will be communicated separately once finalized by the committee.

Despite the postponement, the company confirmed that the terms relating to the offer price and the rights entitlement ratio will remain the same as previously approved and intimated to the stock exchange.

Key Details of the Postponement

Detail	Original Schedule	Revised Status
Issue Open Date	May 27, 2026	Postponed until further notice
Initial Close Date	June 25, 2026	Postponed until further notice
Extended Close Date	July 24, 2026	Postponed until further notice
Offer Price	As approved earlier	Unchanged
Rights Entitlement Ratio	As approved earlier	Unchanged

The updated issue documents will be made available on the websites of BSE Limited and Indrayani Biotech Ltd upon finalization of the revised schedule. The meeting regarding this postponement commenced at 3.30 P.M. and concluded at 3.55 P.M. on June 22, 2026.