Sanofi India Receives ₹24.10 Lakh GST Demand Order from Gujarat Tax Authorities

Sanofi India Limited has received a GST demand order from tax authorities in Ahmedabad, Gujarat, totaling ₹24.10 lakh for the financial year 2018-19. The pharmaceutical company disclosed this development in compliance with SEBI listing regulations on December 24, 2025.

Order Details and Timeline

The Deputy Commissioner of State Tax, Ahmedabad, Gujarat issued the order dated December 23, 2025, which was received by Sanofi India on the same day. The demand notice pertains to GST-related issues from FY2018-19.

Component:	Amount
Tax:	₹12.96 lakh
Interest:	₹9.85 lakh
Penalty:	₹1.30 lakh
Total Demand:	₹24.10 lakh

Nature of Violations

The tax authorities have raised the demand due to excess claim of Input Tax Credit (ITC) in GSTR-3B returns as compared to ITC available in GSTR-2A returns. The Adjudicating/Assessing authority has denied the excess ITC claim, leading to the current dispute with tax authorities.

Company's Response

Sanofi India has indicated that it plans to challenge the order through proper legal channels. The company stated it would make an appeal before the Higher Tax Authorities, suggesting it disputes the findings and demands made in the order.

The pharmaceutical company has assessed that there is no quantifiable impact on its financial, operational, or other activities at this stage, indicating the matter is being treated as a routine compliance issue subject to appeal.

Regulatory Compliance

The disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation requires listed companies to inform stock exchanges about material events that could impact investor decisions.

The company secretary and compliance officer, Haresh Vala, signed the disclosure notice submitted to both BSE Limited and National Stock Exchange of India Limited on December 24, 2025.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.89%	+0.59%	-3.48%	-31.42%	-31.64%	-49.77%

Sanofi India Limited has successfully concluded its postal ballot process, with shareholders overwhelmingly approving the appointment of Deepak Arora as Director and Managing Director of the company. The voting results, announced on December 18, 2025, show strong shareholder confidence in the proposed leadership change.

Voting Results and Approval

The postal ballot concluded with decisive approval for both resolutions:

Resolution	Votes in Favour	Votes Against	Approval Rate
Director Appointment	1,99,46,099	31,256	99.84%
Managing Director Appointment	1,89,18,505	10,58,858	94.70%

The e-voting process, conducted through NSDL's platform, saw participation from 23,03,062 shareholders representing 86.74% of the total voting rights.

Appointment Details

With shareholder approval secured, Mr. Deepak Arora's appointment is now confirmed for a three-year term from October 27, 2025, to October 26, 2028. The 52-year-old executive brings over 30 years of pharmaceutical industry experience to his new role.

Parameter	Details
Position	Director and Managing Director
Term Duration	3 years (Oct 27, 2025 - Oct 26, 2028)
DIN Number	07495638
Industry Experience	30+ years in pharmaceuticals

Remuneration Structure

The approved remuneration package for Mr. Arora includes:

Component	Annual Amount
Basic Salary	₹1,36,25,000
Flexi Compensation Plan	₹1,13,34,638
Performance Bonus (Target)	₹68,12,500

Additional benefits encompass provident fund, gratuity, increments, relocation support, leave travel allowance, insurance coverage, and other perquisites as per company policy.

Voting Process and Timeline

The postal ballot process was conducted entirely through electronic voting:

Notice Circulation: November 17, 2025
E-voting Period: November 18, 2025 (9:00 AM) to December 17, 2025 (5:00 PM)
Results Declaration: December 18, 2025
Cut-off Date: November 14, 2025

Mr. Gaurav Sainani from SGGS Associates served as the scrutinizer for the voting process, ensuring transparency and compliance with regulatory requirements.

Professional Background and Regulatory Approval

Mr. Arora holds a Bachelor's degree in Botany & Zoology from the University of Lucknow and an MBA from Indira Gandhi National Open University. His extensive experience spans sales and marketing leadership, brand development, product management, and business acquisition across local and international markets including the US, Europe, Japan, Africa, and the Middle East.

The appointment requires Central Government approval as Mr. Arora has not been residing in India for the required 12 months prior to the appointment date, in accordance with Schedule V of the Companies Act, 2013.

The successful approval of both resolutions demonstrates strong shareholder confidence in the Board's recommendation and Mr. Arora's capabilities to lead Sanofi India through its next phase of growth in the Indian pharmaceutical market.