AstraZeneca Pharma India Limited has announced the resignation of Ms. Sylvia Lorena Varela Ramon, Non-Executive Director, effective February 28, 2026. The pharmaceutical company communicated this development to both BSE Limited and National Stock Exchange of India Limited on January 29, 2026, in accordance with regulatory disclosure requirements.

Resignation Details and Timeline

Ms. Ramon submitted her resignation letter on January 29, 2026, stating her intention to step down from her directorial position with effect from the close of business hours on February 28, 2026. The resignation was formally communicated pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Committee Resignations

Along with her directorial position, Ms. Ramon also resigned from her committee memberships within the company. Her resignation encompasses her roles on both the Nomination and Remuneration Committee and the Stakeholder's Relationship Committee of AstraZeneca Pharma India Limited.

Company Response and Acknowledgment

The company has formally acknowledged Ms. Ramon's decision and placed on record its sincere thanks and appreciation for her contribution during her tenure. In her resignation letter, Ms. Ramon expressed gratitude to her fellow Board members and the company management for their support and guidance during her time on the Board.

The resignation letter was signed by Ms. Ramon and addressed to the Board of Directors at the company's Bangalore office. She stated that she would "remember fondly" her experience working with the board and wished the company great success in the future.

Regulatory Compliance

The announcement was made in compliance with SEBI circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. Chief Financial Officer & Director Bhavana Agrawal digitally signed the regulatory filing on January 29, 2026, ensuring proper disclosure to the stock exchanges and stakeholders.

AstraZeneca Pharma India Limited has informed stock exchanges about receiving a final assessment order from the Income Tax Department for assessment year 2022-23. The pharmaceutical company disclosed this regulatory development on January 16, 2026, pursuant to SEBI listing obligations.

Assessment Order Details

The final assessment order was passed under sections 143(3) read with sections 144C(13) and 144(B) of the Income Tax Act, 1961. This order represents a subsequent development to the draft order that the company had received earlier and disclosed to exchanges on March 19, 2025.

The assessment involves adjustments on legacy transfer pricing and corporate tax issues, highlighting ongoing regulatory scrutiny in the pharmaceutical sector.

Financial Implications

The key financial and procedural details of the assessment are outlined below:

Company's Response Strategy

AstraZeneca Pharma India has indicated its intention to challenge the assessment order through appropriate legal channels. The company plans to file an appeal before the Income-tax Appellate Tribunal (ITAT) to contest the proposed adjustments.

The management has stated that the matter will be suitably challenged in due course, though they acknowledge that the expected overall financial implication cannot be determined at this stage of proceedings.

Regulatory Compliance

The disclosure was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided detailed information as required under SEBI Circular SEBI/HO/CFD/CFDPoD-1/P/CIR/2023/123 dated July 13, 2023, ensuring transparency with stakeholders regarding material developments.

This development adds to the ongoing transfer pricing disputes that pharmaceutical companies face, particularly regarding legacy issues from previous assessment years.