Panacea Biotec Limited has informed stock exchanges about receiving four awards from the Industrial Tribunal, S.A.S. Nagar, Mohali, pursuant to Regulation 30 of SEBI LODR Regulations. The company disclosed this development on April 10, 2026, following receipt of the tribunal communications on April 9, 2026.

Tribunal Awards Details

The Industrial Tribunal, presided over by an Additional District Judge, issued four awards dated March 19, 2026, with significant implications for the company's workforce management. The tribunal's decisions encompass multiple aspects of worker rights and compensation.

Company's Response and Legal Position

Panacea Biotec has outlined its stance regarding the tribunal awards, emphasizing its legal options and expected financial implications. The company maintains that the awards present grounds for legal challenge.

Key aspects of the company's response include:

• The awards are considered challengeable based on legal opinion
• No material adverse impact expected on financial, operational, or other activities
• Process initiated to file appeals before the Punjab and Haryana High Court
• Appropriate legal action being pursued against the orders

Regulatory Compliance

The disclosure was made in compliance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The company provided comprehensive details as required under Regulation 30, including the nature of communication, receiving authority, and expected implications.

The company has indicated that no penalties, restrictions, or sanctions were imposed pursuant to the communication, and no aberrations or non-compliances were identified by the authority. Panacea Biotec continues to assess the situation while preparing its legal response to challenge the tribunal's decisions through appropriate judicial channels.

Panacea Biotec Limited has successfully obtained a rectified Assessment Order from the Income Tax Department that has nullified its tax liability for Assessment Year 2015-16. The company disclosed this development to stock exchanges on April 07, 2026, under Regulation 30 of SEBI LODR Regulations.

Background of Tax Assessment Issue

The Deputy Commissioner of Income Tax (DCIT), New Delhi, had initially issued a demand order dated February 27, 2026, disallowing certain expenditure and creating a total tax demand of ₹45.71 crore for Assessment Year 2015-16. This original assessment contained several errors that prompted the company to seek rectification.

Rectification Application and Resolution

Panacea Biotec subsequently filed a rectification application under the Income Tax Act, 1961, to correct errors that were apparent from the record. The key issues addressed in the rectification application included:

• Double addition of disallowances
• Omission of set-off for brought-forward losses

Rectified Assessment Order Details

The DCIT issued the rectified Assessment Order on April 06, 2026, which the company received the same day. The rectified order addressed all the identified errors and determined the company's tax liability for Assessment Year 2015-16 as nil.

Financial Impact and Company Position

The rectification has resulted in a positive financial impact for Panacea Biotec, as it has successfully nullified the entire tax demand for the assessment year in question. The company has stated that it does not foresee any adverse impact on its financial, operational, or other activities arising from this rectified order.

The successful resolution of this tax matter eliminates a potential financial liability and provides clarity on the company's tax position for Assessment Year 2015-16. No penalties, restrictions, or sanctions have been imposed pursuant to the rectified communication, and no further actions are required from the company regarding this matter.