Link Pharma Chem received an order from the GST Appellate Authority in Vadodara on October 12, 2026, significantly reducing its tax liability for the fiscal year 2021-22. The final demand was slashed from ₹1,32,94,322 to ₹16,29,852, while the associated penalty decreased from ₹13,29,433 to ₹2,05,605.

The regulatory filing disclosed that the initial dispute arose from alleged mismatches between tax liabilities declared in GSTR1 and payments made through GSTR3B. Additionally, authorities cited excess Input Tax Credit (ITC) availed on the import of goods that was not reflected in GSTR-2A.

Regulatory disclosure details

The company submitted this information under Regulation 30 read with Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The order was issued by the GST Appellate Authority, Tribunal Vadodara.

Financial impact and next steps

Link Pharma Chem stated that while the financial impact is limited to the revised demand, penalty, and interest amounts, there is no material impact on the company's operations or financial position. Despite the reduction, the company intends to file an appeal with the appropriate authority regarding the remaining liability.

What the numbers show

The appellate order resulted in a reduction of over 87% in the principal tax demand and nearly 85% in the penalty amount. This substantial decrease suggests the authority found significant merit in the company's defense against the initial claims of ITC mismatches and reporting discrepancies.

Link Pharma Chem Limited has confirmed the re-appointment of Mr. Satish G. Thakur as Chairman and Whole-time Director for a three-year term effective June 24, 2026. The resolution was passed during the company’s 41st Annual General Meeting (AGM) held on August 20, 2026.

The company also re-appointed Mr. Rishikesh Thakur as Managing Director for a three-year term effective September 24, 2026. Shareholders approved all six ordinary and special resolutions with overwhelming support, securing 99.74% affirmative votes across the board. The virtual meeting was scrutinized by M/s. Vijay Bhatt & Co., Company Secretaries, Vadodara.

Voting Participation

As per the record date of August 13, 2026, the company had a total of 6,004 shareholders. Of these, 47 members attended the meeting through video conferencing, comprising three promoters and 44 public shareholders.

The total number of votes polled was 2,618,698, representing 58.97% of the outstanding shares held by eligible voters. The promoter group held 2,326,936 shares and voted in favor of all resolutions. Public non-institutional shareholders polled 291,762 votes, with 284,823 cast in favor and 6,939 against.

Resolutions Passed

All resolutions were passed with the requisite majority. No invalid votes were recorded during the process.

Management Profile & Attendance

Mr. Satish G. Thakur, who holds a B.Sc. and L.Tech degree, has been associated with the company since its incorporation. He brings more than 43 years of experience in the industry, with expertise in project design and development. He is the father of Mr. Rishikesh Thakur, Managing Director.

Key management personnel present included Mr. Rishikesh Thakur, Managing Director; Mrs. Rachna Ghai, Independent Director; Mr. Rohit J Shah, Independent Director; and Mrs. Rangoli S Gada, Independent Director. Mr. Sanjib Dutta, Chief Financial Officer, and Mrs. Komal Bhojwani, Company Secretary, were also in attendance.

Mr. Satish G. Thakur chaired the proceedings. Five shareholders participated in the question-and-answer session, with queries addressed by the Managing Director.

Mr. Rishikesh Thakur holds a degree in B. Eng. in Polymer from London Metropolitan University. He has more than 15 years of experience in the chemical business, including manufacturing, research and development, and project development.

The Company Secretary confirmed that the scrutinizer’s report and e-voting results have been submitted to the BSE within the stipulated timeframe.