Nectar Lifesciences Limited has submitted its quarterly dematerialization compliance certificate to stock exchanges for the quarter ended March 31, 2026. The pharmaceutical company filed the mandatory documentation with both the National Stock Exchange of India Limited and BSE Limited on April 06, 2026.

Regulatory Compliance Filing

The certificate was submitted pursuant to Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018. Company Secretary and Compliance Officer Sanjaymohan Singh Rawat signed and submitted the documentation to fulfill the quarterly reporting requirement.

Certificate Confirmation

KFin Technologies Limited, serving as the company's Registrar and Share Transfer Agent, issued the compliance certificate dated April 06, 2026. The certificate confirms that securities received from depository participants for dematerialization during the quarter were processed according to regulatory requirements.

The registrar certified that:

• Securities received for dematerialization were confirmed to depositories within prescribed timelines
• Accepted security certificates were properly mutilated and cancelled
• Depository names were substituted in the register of members as registered owners
• Required certificates were submitted to depositories and stock exchanges

Documentation Process

Vice President Dnyanesh Gharote signed the certificate on behalf of KFin Technologies Limited from their operations center in Hyderabad. The documentation ensures compliance with SEBI regulations governing the dematerialization process for listed securities.

This quarterly filing represents part of the ongoing regulatory compliance requirements for listed companies to maintain transparency in their share transfer and dematerialization activities with stock market regulators.

Nectar Lifesciences Limited has informed stock exchanges about a material litigation development involving a civil writ petition filed by the Principal Commissioner of CGST Commissionerate, Ludhiana. The petition challenges a favorable appellate order that significantly reduced the company's tax liability.

Background of the Tax Matter

The development stems from an earlier appellate order dated May 27, 2025, issued by the Commissioner (Appeal). This order had provided substantial relief to Nectar Lifesciences by dropping a major portion of the tax demand while confirming only a minimal liability.

CGST Authority's Challenge

The Principal Commissioner of CGST Commissionerate, Ludhiana has now filed a civil writ petition with the Hon'ble High Court of Punjab and Haryana, seeking to overturn the appellate decision. The petition requests the court to:

• Quash and set aside the appellate order dated May 27, 2025
• Restore the original order that was quashed by the appellate authority
• Grant interim stay on the operation of the appellate order

Potential Financial Impact

If the High Court allows the writ petition in full, Nectar Lifesciences could face significant financial exposure. The company has disclosed that it may be required to pay the ₹89.32 crore demand along with applicable interest and penalties, plus the ₹6.24 crore demand that was remanded.

Company's Response Strategy

Nectar Lifesciences has stated that it strongly contests the contentions raised in the writ petition and will file an appropriate response before the Hon'ble High Court. The company has also reserved its right to prefer an appeal before the Hon'ble Supreme Court if required, indicating its intention to pursue all available legal remedies.

Next Steps

The matter has been scheduled for hearing on April 28, 2026, before the Hon'ble High Court of Punjab and Haryana. The outcome of this hearing will determine whether the favorable appellate order remains intact or if the company faces renewed tax liability exposure.