Nectar Lifesciences Limited , a prominent pharmaceutical company, has disclosed that the Directorate of Revenue Intelligence (DRI) conducted search operations at various premises of the company under the Customs Act, 1962. The search operations, which began on September 15, 2025, at approximately 11:00 AM, concluded later that night.

Company Cooperation and Transparency

In a filing to the stock exchanges, Nectar Lifesciences stated that it has fully cooperated with the DRI officials during the proceedings. The company responded to clarifications sought by the authorities and has committed to providing any further information required by the DRI.

Impact on Operations

According to the company's statement, the search operations did not impact its regular operations or other activities. Nectar Lifesciences emphasized that business continued as usual during and after the search.

Financial Implications

At this initial stage, the specific violations or contraventions alleged by the DRI are not ascertainable. Consequently, the financial impact of the search operations on Nectar Lifesciences cannot be determined at present. The company has stated that it will continue to assess the situation as more information becomes available.

Regulatory Compliance

The search was conducted by the DRI, which operates under the Central Board of Indirect Taxes & Customs, Ministry of Finance, Government of India. Nectar Lifesciences has made the necessary disclosures in compliance with Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.

Company Background

Nectar Lifesciences Limited is listed on both the National Stock Exchange of India and BSE Limited. The company's corporate office is located in Chandigarh, while its registered office and works are situated in Punjab.

As the investigation is ongoing, stakeholders and investors will be closely monitoring further developments and their potential impact on Nectar Lifesciences' operations and financial performance.

Nectar Lifesciences Limited , a prominent player in the pharmaceutical industry, has achieved a significant milestone in its international operations. The company recently announced that it has received Good Manufacturing Practices (GMP) certification from Ukraine's State Service on Medicines and Drugs Control (SMDC) for its Unit VI manufacturing facility.

Certification Details

The GMP certification, valid until April 18, 2026, covers pharmaceutical products intended for sale within Ukraine or for export. This certification adheres to the stringent guidelines set forth by the Pharmaceutical Inspection Convention/Cooperation Scheme (PIC/S), EU Directives, and World Health Organization (WHO) recommendations.

Strategic Implications

The certification comes at a crucial time for Nectar Lifesciences, as the company had previously disclosed plans for a slump sale of the Unit VI facility. According to the LODR data, shareholders have already approved this slump sale, as mentioned in the company's letter dated August 4, 2025, referencing an earlier communication from July 7, 2025.

Facility Location

The certified Unit VI facility is located at Village Bhatolikalan, Adjoining Jharmajri, E.P.I.P., P.O. Barotiwala, Tehsil Baddi, District Solan, Himachal Pradesh, India. This strategic location in the pharmaceutical hub of Himachal Pradesh potentially enhances the facility's value proposition in the context of the planned slump sale.

Corporate Governance

In a separate announcement, Nectar Lifesciences informed that its Board of Directors is scheduled to meet on August 14, 2025, to consider and approve the unaudited financial results for the quarter ended June 30, 2025. This meeting underscores the company's commitment to timely financial reporting and transparency with its stakeholders.

The GMP certification from Ukraine's SMDC represents a significant achievement for Nectar Lifesciences, potentially opening new avenues for international business. However, the planned slump sale of the certified Unit VI facility adds an interesting dynamic to the company's strategic direction, which investors and industry observers will likely monitor closely in the coming months.