Pharmaids Pharmaceuticals filed two complaints on September 15, 2026, against M/s Anugraha Chemicals and its partners for the dishonour of cheques totalling ₹2.62 crore. The legal action was initiated at the 34th Additional Chief Judicial Magistrate Court in Bengaluru under Section 223 of the Bharatiya Nagarik Suraksha Sanhita, 2023, read with Section 138 of the Negotiable Instruments Act, 1881.

The dispute arises from outstanding dues payable to Pharmaids following its exit from a partnership interest in Anugraha Chemicals. The payments were governed by a Disinvestment Agreement dated July 10, 2025, as modified by a Supplementary Agreement dated January 23, 2026.

Details of the Dishonoured Cheques

Anugraha Chemicals issued two cheques towards the discharge of the outstanding amount. Both instruments were returned unpaid on July 23, 2026, with the remark "Payment Stopped by the Drawer." Despite statutory demand notices issued by Pharmaids, the amount remains unpaid.

Parties Involved

The complaints name the following entities and individuals as respondents:

• M/s Anugraha Chemicals
• Mr. Sourabh S. Hadimani (Partner)
• Mrs. Sneha Hadimani (Partner)

Financial Implications

Pharmaids stated that there are no financial liabilities or implications for the company arising from this litigation, as it is the complainant seeking recovery of amounts due. The aggregate quantum of the claim is ₹2,62,50,000, exclusive of any compensation, interest, or costs that may be awarded by the court.

Pharmaids Pharmaceuticals has announced the scheduling of its 37th Annual General Meeting (AGM) for Friday, September 11, 2026. The meeting will commence at 12:00 noon and will be conducted exclusively through Video Conferencing (VC) or Other Audio Visual Means (OAVM), in compliance with Ministry of Corporate Affairs circulars and SEBI Listing Regulations.

The company has dispensed with the requirement of sending physical copies of the AGM notice and annual report, adhering to recent regulatory dispensations. Shareholders whose email addresses are registered with their Depository Participants or the Registrar and Transfer Agent will receive the notice electronically. Those without registered emails will receive a letter containing a web link to access the documents on the company’s website.

E-Voting Schedule

Shareholders holding shares as of the cut-off date may exercise their voting rights using the electronic voting facility provided by Central Depository Services (India) Limited (CDSL). The remote e-voting window opens three days before the meeting and closes two days prior.

Members who cast their votes during the remote e-voting period may attend the AGM via VC/OAVM but are not entitled to vote again. Voting rights are proportionate to the paid-up equity share capital held as of the cut-off date.

Shareholder Instructions

To participate in the AGM or cast votes, shareholders must ensure their contact details are updated. Demat holders are advised to register their email addresses and bank details with their respective Depository Participants. Physical shareholders must submit KYC details via Form ISR-1 to the Registrar and Transfer Agent, Venture Capital and Corporate Investments Private Limited.

Queries regarding the e-voting system can be directed to CDSL at helpdesk.evoting@cdslindia.com or via toll-free numbers. The company secretary, Prasanna Subramanya Bhat, signed the disclosure under Regulation 30 of SEBI Listing Regulations, confirming the publication of this information in national newspapers.