Panacea Biotec has filed an appeal before the Hon'ble High Court of Punjab and Haryana at Chandigarh against the fourth award issued by the Industrial Tribunal. The awards, dated March 19, 2026, were received by the company on April 9, 2026, from the Presiding Officer in the rank of Additional District Judge of Industrial Tribunal, S.A.S. Nagar, Mohali. The company stated that it does not foresee any material adverse impact on its financial, operational, or other activities arising from these awards based on legal opinion.

Legal Proceedings Overview

The company has now formally challenged the fourth award, having previously filed appeals against three other awards on July 7, 2026. The Hon'ble High Court has heard the three prior appeals and passed an interim order stating that no coercive steps shall be taken against the company while the matters are sub-judice.

Key Highlights

• Panacea Biotec has filed an appeal against the fourth award from the Industrial Tribunal dated March 19, 2026.
• The Hon'ble High Court has passed an interim order preventing coercive steps against the company regarding the three earlier appeals.
• The awards pertain to the period from 2014 onwards.

The tribunal awards set aside the transfer of 23 workmen and granted relief of full back wages from the date of transfer, awarded reasonable wage revision, and directed the reinstatement of workers with 50% back wages from the date of termination. The interim relief secured by the company ensures that no coercive measures can be enforced while the legal proceedings continue.

Rajesh Jain HUF has filed an exemption application with the Securities and Exchange Board of India (SEBI) regarding the acquisition of 2,00,000 equity shares in Panacea Biotec Limited. The shares were acquired through an inter-se transfer by way of gift from Dr. Rajesh Jain, a promoter of the company, on June 12, 2026. The acquirer, Dr. Rajesh Jain in his capacity as Karta of Rajesh Jain HUF, submitted the report under Regulation 10(7) of the SEBI (Substantial Acquisition of Shares & Takeover) Regulations, 2011 on July 8, 2026, to claim the exemption provided under Regulation 10(1)(a)(ii).

The transaction involves the transfer of shares from a promoter to a member of the promoters' group without any consideration. Following the acquisition, the shareholding of Rajesh Jain HUF in the target company stands at 0.09%, while the shareholding of Dr. Rajesh Jain has reduced from 13.57% to 13.48%. The requisite fee of ₹1,50,000 plus applicable Goods and Services Tax was paid via NEFT on July 9, 2026.

The application confirms that the acquirer and seller have been named promoters in the shareholding pattern filed by the target company. As the acquisition falls under the general exemptions of Regulation 10(1)(a)(ii), the provisions requiring a 60-day Volume Weighted Average Price (VWAP) and a valuation report from an independent registered valuer were not applicable. The 60-day VWAP for the shares was recorded at 387.37.

Compliance with the relevant regulations was maintained, including the submission of reports to the stock exchanges before the proposed acquisition date. The report filed on June 5, 2026, and June 15, 2026, ensured adherence to Regulation 10(5) and 10(6) respectively. Since the acquirer's total shareholding post-acquisition is 0.09%, there is no obligation to file disclosures under Regulation 29 of the SEBI SAST Regulations.

Acquisition Details