Unichem Laboratories received an Order-in-Appeal from the Commissioner (Appeals Thane) on September 18, 2026, disallowing a proposed penalty of ₹87.07 crore and interest liability of ₹6.58 crore related to cross-charge of common services.

The company disclosed the development in a filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The appeal concerned allegations of delayed tax payments and non-payment of interest under Section 13 of the CGST Act, 2017, and Rule 47 of the CGST Rules, 2017.

Regulatory Action Details

The Commissioner’s order addressed specific contraventions alleged by tax authorities. The key financial figures involved in the dispute are outlined below:

The penalty was originally levied under Section 74(1) and Section 122(2)(b) of the CGST Act, 2017, along with corresponding sections of the Maharashtra SGST Act, 2017. The interest liability stemmed from alleged delays in paying tax liabilities after the time of supply.

Next Steps

Unichem Laboratories stated that the order will have no material impact on its financial or operational activities. Despite the favorable outcome regarding the disallowance of the penalty and interest in this specific appeal instance, the company plans to file a further appeal within prescribed timelines. This indicates that the legal matter may not be fully concluded, as the company intends to pursue additional remedial steps based on legal advice.

The disclosure was signed by Pradeep Gautam Bhandari, Head – Legal & Company Secretary, and received by the stock exchanges after 2:00 pm on September 18, 2026.

Shareholders of unichem laboratories have approved the reappointment of Pabitrakumar Bhattacharyya as Managing Director and Chief Executive Officer, alongside adopting the audited financial statements for FY26. The resolutions were passed at the company’s 63rd Annual General Meeting (AGM) held on August 11, 2026, with an overall voting participation rate of 81.2% among shareholders holding 7,04,05,750 shares.

The meeting was conducted via video conference in compliance with Ministry of Corporate Affairs (MCA) and Securities and Exchange Board of India (SEBI) circulars. Dr. Prakash A. Mody, Chairman, was absent due to personal reasons; Mr. Pranay Godha, Non-Executive Director, presided over the session. Statutory Auditors N.A. Shah Associates LLP and Secretarial Auditors Alwyn Jay & Co. were present to address queries.

Voting Participation Breakdown

The consolidated scrutinizer’s report, dated August 12, 2026, detailed the voting patterns across shareholder categories. Promoters and the Promoter Group held 4,94,40,586 shares and cast all their votes, representing 100% participation. Public Institutions held 85,20,924 shares, with a 90.25% voting turnout. Public Non-Institutions held 1,24,44,240 shares, recording a lower participation rate of 0.28%. E-voting was facilitated through National Securities Depository Limited (NSDL).

Key Resolutions Passed

All five resolutions placed before the members were passed with requisite majorities. The adoption of standalone and consolidated financial statements for FY26 received near-unanimous support, with only 11 and 12 votes cast against them respectively from public non-institutional shareholders.

Pabitrakumar Bhattacharyya (DIN: 07131152), who retires by rotation, was reappointed as a director via an ordinary resolution and subsequently as MD and CEO via a special resolution. Both resolutions saw strong support, though 440 votes were cast against his reappointment by public non-institutional shareholders. The remuneration for Cost Auditors Kishore Bhatia & Associates for the year ended March 31, 2027, was also ratified.

Governance and Compliance

Alwyn D'Souza of Alwyn Jay & Co. served as the scrutinizer for the e-voting process. The votes were unblocked on August 11, 2026, at 4:27 p.m., in the presence of two independent witnesses, Edion Dsouza and Krishnakant Adagale. The Company Secretary, Pradeep Gautam Bhandari, confirmed that the Statutory Auditors’ Report and Secretarial Auditor’s report contained no qualifications. The proxy register was not available for inspection as the facility is not applicable for meetings held entirely through video conference.