GlaxoSmithKline Pharmaceuticals Limited has issued a postal ballot notice seeking shareholder approval for the appointment of Ronojit Biswas as Whole-Time Director and Chief Financial Officer. The company sent the postal ballot notice to stock exchanges on March 7, 2026, in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Postal Ballot Process and Timeline

The notice is being distributed electronically to shareholders whose email addresses are registered with the company or depositories as of the cut-off date of February 27, 2026. The Board of Directors appointed P.N. Parikh (FCS 327) and Jigyasa Ved (FCS 6488) of Parikh & Associates as scrutinizers to conduct the postal ballot process.

Appointment Details and Remuneration Structure

The postal ballot seeks approval for two ordinary resolutions: first, the appointment of Biswas as Director, and second, his appointment as Whole-Time Director & CFO for three years from April 1, 2026, to March 31, 2029. The Board of Directors initially appointed Biswas as Additional Director during their meeting on March 2, 2026, subject to shareholder approval.

Professional Background and Qualifications

Ronojit Biswas, aged 51, brings over 25 years of experience with GSK across international markets including India, Vietnam, Singapore, Brazil, and the UK. He started his career with GSK in India as a Management Trainee in 1999 and most recently served as Senior Finance Director – Global Product Strategy, based in Singapore. His previous roles include CFO positions for GSK's Brazil and Vietnam businesses, and Regional Controller for GSK's International region.

Biswas holds a Post Graduate Program in Management (Finance) from Management Development Institute, Gurgaon, and a Bachelor's degree in Commerce (Hons.) from St. Xavier's College, Kolkata.

Leadership Transition and Regulatory Compliance

The appointment follows the planned transition of current CFO Juby Chandy, who will step down from his roles as Whole-Time Director and CFO on March 11, 2026, to assume a new leadership position focusing on APAC Finance within the GSK Group. The company confirmed that Biswas is not related to any existing Directors and has not been debarred by any regulatory authority.

The appointment requires ordinary resolution approval from shareholders, with voting rights proportional to shareholding as of the cut-off date. The e-voting facility is provided through KFin Technologies Limited, with detailed instructions available on the company's website and stock exchange platforms.

GlaxoSmithKline Pharmaceuticals Limited has received a significant GST demand order from Maharashtra tax authorities, totaling Rs 6,92,76,478 for the period covering April 2022 to March 2023. The pharmaceutical company disclosed this development in a regulatory filing dated 7th March 2026, in compliance with SEBI listing regulations.

GST Demand Details

The demand order was issued on 17th February 2026 by the Additional Commissioner, CGST & Central Excise, Mumbai Central, and was physically received by the company on 20th February 2026. The order pertains to alleged non-payment of GST related to export of services during the specified period.

Nature of Alleged Violation

The GST authorities have raised the demand on account of alleged non-payment of GST pertaining to export of services. The company noted that the order has not been uploaded online on the GST portal and was received in physical form, which may indicate the preliminary nature of the proceedings.

Company's Response and Impact Assessment

GlaxoSmithKline Pharmaceuticals has assessed that there will be no impact on the financial operations of the company. The management has indicated that appropriate actions will be taken in due course, suggesting the company may challenge the demand through available legal remedies.

Regulatory Compliance

The disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was signed by Ajay Nadkarni, Vice President – Administration, Real Estate & Company Secretary, ensuring proper corporate governance protocols were followed in communicating this material development to stakeholders.