Syngene International Limited , a prominent player in the Indian biotech sector, has received a revised tax order for the Assessment Year (AY) 2015-16, significantly reducing its tax liability. This development comes as part of an ongoing tax dispute resolution process involving multiple regulatory bodies.

Key Highlights of the Tax Order

• Original Demand: Rs 37.20 crore (December 2017)
• Reassessed Demand: Rs 79.84 crore (September 2021)
• Current Revised Demand: Rs 48.61 crore

Chronology of Events

1. December 20, 2017: Initial assessment order under section 143(3) of the Income-tax Act, 1961, disallowing various deductions and raising a demand of Rs 37.20 crore.

2. September 24, 2021: Reassessment order under section 147 read with section 144B, increasing the demand to Rs 79.84 crore.

3. December 26, 2023: National Faceless Appeal Centre quashes the reassessment proceedings.

4. October 17: Deputy Commissioner of Income-tax issues a revised order, reducing the demand to Rs 48.61 crore (including interest).

Impact and Company's Stance

Syngene International maintains a positive outlook on the case, stating that it "believes it has merits in the case and expects there may not be material impact on the company's financials, operations or activities." The company is currently analyzing the order and plans to take appropriate action.

Ongoing Proceedings

It's important to note that appeal proceedings related to the original assessment from December 2017 are still in progress before the National Faceless Appeal Centre.

Financial Implications

While the revised demand represents a significant reduction from the 2021 reassessment, it still stands higher than the original 2017 assessment. The company's confidence in its case suggests it may seek further reductions or resolution through ongoing appeal processes.

Investors and stakeholders will likely keep a close eye on how this tax matter evolves, as it could have implications for Syngene's financial planning and cash flow management in the coming years.

Syngene International Limited , a leading contract research organization, has announced a significant addition to its leadership team. Effective October 28, 2025, Surender Sharma will join the company as General Counsel and member of the Executive Committee, bringing over two decades of extensive experience in corporate governance and legal affairs.

Key Appointment Details

Professional Background

Sharma joins Syngene from Colgate-Palmolive (India) Limited, where he most recently held the position of Whole-Time Director and Vice President — Legal, Secretarial, and Corporate Affairs. His impressive career spans several renowned organizations, including:

• Colgate-Palmolive
• Marico
• Heinz
• Indian Hotels
• Reckitt
• Maruti

Areas of Expertise

Sharma's extensive experience covers crucial areas in corporate legal affairs:

• Corporate governance
• Mergers and acquisitions
• Joint ventures
• Compliance
• Regulatory affairs

Throughout his career, Sharma has successfully navigated complex legal and governance matters, advised Boards and leadership teams on risk and compliance, and played a pivotal role in developing and strengthening corporate ethics and sustainability frameworks.

Educational Background

Sharma's educational qualifications underscore his multidisciplinary expertise:

This appointment comes as Syngene International continues to strengthen its leadership team. Sharma's diverse experience across multiple industries and his strong educational background are likely to bring valuable insights to Syngene's executive decision-making process.

As the company navigates the complex landscape of contract research and development, Sharma's expertise in corporate governance, compliance, and regulatory affairs could prove instrumental in maintaining Syngene's competitive edge while ensuring adherence to legal and ethical standards.