Abbott India Limited has received a GST penalty order of ₹2.40 crores from tax authorities, as disclosed in a regulatory filing under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015. The pharmaceutical company informed the BSE on December 31, 2025, about this development.

Penalty Details and Timeline

The penalty order was issued by the Office of the Principal Commissioner of CGST & Central Excise, Mumbai East. The company received the order on December 30, 2025, covering multiple financial years spanning from 2018-19 to 2023-24.

Nature of Violation

The GST penalty has been levied for the disallowance of Input Tax Credit across the specified financial years. Input Tax Credit allows businesses to reduce their tax liability by claiming credit for taxes paid on inputs used in their business operations.

Company's Response and Impact Assessment

Abbott India has stated that the penalty order will have no material impact on the company's financials, operations, or other business activities. The pharmaceutical major believes that the demand raised by the tax authorities is not maintainable under the applicable regulations.

The company has indicated its intention to challenge the order through the appropriate legal channels. Abbott India is in the process of filing an appeal against the GST penalty order to contest the tax authorities' decision.

Regulatory Compliance

The disclosure was made in compliance with stock exchange regulations, ensuring transparency with shareholders and the investing public. Company Secretary Sangeeta Shetty signed the regulatory intimation, which was filed with the BSE under the company's scrip code 500488.

Abbott India Limited has announced key board changes as part of its corporate governance updates, with one director stepping down and a new appointment taking effect in early 2026.

Director Resignation

Mr. Ambati Venu (DIN: 07614849) has tendered his resignation as Director of the Company, effective close of business hours on December 31, 2025. The resignation is to pursue an external career opportunity, with no other material reasons cited for the departure.

New Director Appointment

The Board of Directors has approved the appointment of Mr. Vivek Mohan as Additional Non-Executive Director, effective January 1, 2026. This appointment was made upon recommendation of the Nomination and Remuneration Committee through a resolution passed on December 24, 2025.

Professional Background of New Appointee

Mr. Vivek Mohan brings extensive experience within Abbott, having been appointed as Abbott's Vice President, Established Pharmaceuticals, India with effect from January 1, 2026. He previously served as Abbott's Divisional Vice President, Corporate Global Marketing, where he led creative strategy and marketing efforts for Abbott's corporate brand and managed brand partnerships and sponsorships including Real Madrid and the Abbott World Marathon Majors.

Mohan joined Abbott in 1992 as part of product development for Abbott Diagnostics in Illinois. His diverse leadership experience spans multiple geographies and includes:

• Senior Director - Integrated Health for Established Pharmaceuticals in India
• Managing Director for EPD in Abbott India Limited
• General Manager for Abbott Indonesia
• Regional commercial roles in North Yorkshire, UK and the Saudi/Gulf region

Educational Qualifications

Mr. Mohan holds strong academic credentials with a Bachelor of Science in Microbiology from the University of Michigan (1992) and an M.B.A. in International Business and Marketing from the University of Illinois (1996).

Regulatory Compliance and Next Steps

The company has confirmed that Mr. Vivek Mohan is not debarred from holding the office of director by virtue of any order of SEBI or any other authority. Additionally, he is not related to any of the Directors, Key Managerial Personnel, or Senior Management of the Company.

The Board has approved a Postal Ballot Notice to seek shareholder approval for Mr. Mohan's appointment as Director. The notice will be sent to shareholders in due course and filed with the Stock Exchange as per regulatory requirements under SEBI regulations.