Nephrocare Health Services Limited has announced the designation of Mr. Prashant Vinodkumar Goenka as Chief Risk Officer (CRO), effective April 03, 2026. The healthcare services company informed stock exchanges about this key leadership appointment through a regulatory filing under SEBI Listing Regulations.

Board Approval and Designation Details

The Board of Directors approved the designation through a circular resolution dated April 03, 2026. Mr. Goenka, who currently serves as the Chief Financial Officer, will take on the additional role of Chief Risk Officer while continuing his existing responsibilities. The appointment aligns with regulatory requirements under SEBI Listing Regulations and related master circulars.

Professional Background and Expertise

Mr. Prashant Vinodkumar Goenka has been associated with Nephrocare Health Services since May 7, 2024, leading finance, strategy, administration, secretarial, and technology functions. His educational credentials include a bachelor's degree in engineering (electrical and electronics) with honors and a master's degree in science (economics) with honors from Birla Institute of Technology and Science, Pilani.

He further enhanced his qualifications with a master's of business administration from the University of Chicago, Booth School of Business, focusing on finance and strategic management. As a certified Six Sigma Master Black Belt, Mr. Goenka brings specialized expertise in process optimization and quality management.

Industry Experience and Leadership

Mr. Goenka's professional journey spans over 20 years in financial services, with extensive experience across international markets. His career includes leadership roles with prominent financial institutions:

• HSBC: Senior leadership positions
• Bank of America: Strategic roles in financial services
• JP Morgan Chase: Expertise in banking operations

His diverse experience covers operations across the USA, Philippines, and India, providing him with a global perspective on financial risk management and regulatory compliance.

Regulatory Compliance and Disclosure

The appointment fulfills regulatory requirements under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, specifically Regulation 30. The company has made the disclosure available on its official website at www.nephroplus.com , ensuring transparency for stakeholders and investors.

The designation strengthens Nephrocare Health Services' risk management framework by leveraging Mr. Goenka's extensive financial services background and international experience in the healthcare sector.

Nephrocare Health Services Limited has filed a writ petition before the Hon'ble High Court of Jammu & Kashmir and Ladakh at Srinagar on April 02, 2026, challenging GST orders totaling ₹2.51 crore. The company disclosed this development under Regulation 30 of SEBI Listing Regulations through case number WP(C)/646/2026.

GST Demand Breakdown

The GST authorities have raised a comprehensive demand against the company following alleged discrepancies in tax filings:

Timeline of Dispute

The litigation originated from a Show Cause Notice dated September 18, 2024 issued under Section 73 of the CGST/J&K GST Act, 2017. The notice alleged a mismatch between turnover reported in Form 26AS and GST returns (GSTR-1) for FY 2020-21.

Key Chronological Events:

• September 18, 2024: Show Cause Notice issued
• January 13, 2025: Order-in-Original passed raising demand
• May 24, 2025: Company filed rectification application
• March 6, 2026: Rectification application rejected
• March 7, 2026: Appeal filed against Order-in-Original
• March 12, 2026: Appeal rejected on grounds of delay
• April 02, 2026: Writ petition filed

Company's Defense Position

Nephrocare Health Services submitted detailed replies clarifying that Form 26AS reflects PAN-based turnover across multiple GST registrations, making it incomparable with GST returns filed for specific U.T. of Jammu & Kashmir registration. The company emphasized that its dialysis and allied healthcare services are exempt from GST under applicable notifications.

Recovery Proceedings Initiated

Parallel to the adjudication process, GST authorities initiated recovery proceedings by issuing an attachment notice dated February 9, 2026 to the company's banker for recovery of alleged dues. This prompted the company to challenge both the validity of orders and recovery proceedings through the writ petition.

Financial Impact Assessment

The company stated it is contesting the ₹2.51 crore demand based on legal advice and internal assessment. Management believes the demand is not tenable and expects the matter will not have material impact on operations. The writ petition challenges the Order-in-Original dated January 13, 2025, Order-in-Appeal dated March 12, 2026, and attachment proceedings initiated by GST authorities.