Nectar Lifesciences Ltd

Integrated Filing — Corporate Governance (NSE XBRL)

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Filing Summary

Company
Nectar Lifesciences Limited
Symbol
NECLIFE
Quarter Ended
31-Mar-2026
Submission
New

General Disclosures

Advertisements As Per Regulation471
Yes
Annual Return As Provided Under Section92Of The Companies Act2013
Yes
Approval For Material Related Party Transactions
Not Applicable
Approval Of The Board And Shareholders For Compensation Or Profit Sharing
Not Applicable
Audio Or Video Recordings And Transcripts Of Post Earinings Or Quarterly Calls
Not Applicable
Board Composition
Yes
Code Of Conduct
Yes
Compliance Certificate
Yes
Compliance With Sub Regulation3Of Regulation46With Respect To Accuracy Of Disclosures On The Website And Timely Updation
Yes
Confirmation That The Disclosures Are In A Separate Section As Specified In Sub Regulation2Of Regulation46
Yes
Credit Rating Or Revision In Credit Rating Obtained
Not Applicable
Date Of End Of Financial Year
31-Mar-2026
Date Of End Of Reporting Period
31-Mar-2026
Date Of Signing
28-Apr-2026
Date Of Start Of Financial Year
01-Apr-2025
Designation Of Person
Company Secretary and Compliance Officer
Designation Of Person Affirmations
Company Secretary and Compliance Officer
Designation Of Person For Annual Affirmations
Company Secretary and Compliance Officer
Designation Of Person For Quartely Affirmations
Company Secretary and Compliance Officer
Details Of Agreements Entered Into With The Media Companies And Or Their Associates
Not Applicable
Details Of Business
Yes
Details Of Establishment Of Vigil Mechanism Or Whistle Blower Policy
Yes
Disclosure Of Contact Details Of KMP Who Are Authorized For The Purpose Of Determining Materiality Under Sub Regulation5Of Regulation30
Yes
Disclosure Of Notes On Annual Affirmations Explanatory Text Block
1. The affirmation with compliance to code of conduct from members of Board of Directors and Senior management personnel for the financial Year ("FY") 2024-2025 were received, however, for the FY 2025-2026, it will be received in due course.
Disclosure Of Notes To Annexure1Explanatory Text Block
This report will be placed before the next meeting of Board. The previous quarter report was placed before the Board in their meeting. There was no observation or comments or advise on that.
Disclosure Of Related Party Transactions On Consolidated Basis
Yes
Disclosure Web Link Of Annual Return As Provided Under Section92Of The Companies Act2013Is Placed
https://www.neclife.com/about-3-13
Disclosure Web Link Of Company At Advertisements As Per Regulation471Is Placed
https://www.neclife.com/about-3-9
Disclosure Web Link Of Company At Dividend Distribution Policy As Per Regulation43A1Is Placed
https://www.neclife.com/about-3-5
Disclosure Web Link Of Company At Materiality Policy As Per Sub Regulation4Regulation30Is Placed
https://www.neclife.com/about-3-5
Disclosure Web Link Of Company At Separate Audited Financial Statements Of Each Subsidiary Of The Listed Entity Is Placed
https://www.neclife.com/about-3-4
Disclosure Web Link Of Company At Which Details Of Business Is Placed
https://www.neclife.com/business-areas
Disclosure Web Link Of Company At Which Details Of Establishment Of Vigil Mechanism Or Whistle Blower Policy Is Placed
https://www.neclife.com/about-3-5
Disclosure Web Link Of Company At Which Financial Results Is Placed
https://www.neclife.com/about-1
Disclosure Web Link Of Company At Which Policy For Determining Material Subsidiaries Is Placed
https://www.neclife.com/about-3-5
Disclosure Web Link Of Company At Which Policy On Dealing With Related Party Transactions Is Placed
https://www.neclife.com/about-3-5
Disclosure Web Link Of Company At Which Shareholding Pattern Is Placed
https://www.neclife.com/about-3-2
Disclosure Web Link Of Compliance With Sub Regulation3Of Regulation46With Respect To Accuracy Of Disclosures On The Website And Timely Updation Is Placed
https://www.neclife.com/investor-relations
Disclosure Web Link Of Confirmation That The Disclosures Are In A Separate Section As Specified In Sub Regulation2Of Regulation46Is Placed
https://www.neclife.com/investor-relations
Disclosure Web Link Of Disclosure Of Contact Details Of KMP Who Are Authorized For The Purpose Of Determining Materiality Under Sub Regulation5Of Regulation30Is Placed
https://www.neclife.com/about-3-18
Disclosure Web Link Of Disclosures Under Sub Regulation8Of Regulation30Is Placed
https://www.neclife.com/about-3-17
Disclosure Web Link Of Memorandum Of Association And Articles Of Association Is Placed
https://www.neclife.com/memorandum-articles-of-association
Disclosure Web Link Of Schedule Of Analyst Or Institutional Investor Meet And Presentation Prepared By Listed Entity For Analyst Or Institutional Investor Meet Is Placed
https://www.neclife.com/about-5
Disclosure Web Link Of Secretarial Compliance Report Is Placed
https://www.neclife.com/about-3-20
Disclosures Under Sub Regulation8Of Regulation30
Yes
Dividend Distribution Policy As Per Regulation43A1
Yes
Employee Benefit Scheme Documents Framed In Terms Of SEBI Share Based Employee Benefits And Sweat Equity Regulations2021
Not Applicable
Fees Or Compensation
Yes
Financial Results
Yes
Is SCORESID Available
Yes
ISIN
INE023H01027
Market Capitalisation As Per Immediate Previous Financial Year
Top 2000 listed entities
Materiality Policy As Per Sub Regulation4Regulation30
Yes
Memorandum Of Association And Articles Of Association
Yes
Minimum Information
Yes
MSEI Symbol
NOTLISTED
Name Of Signatory
Sanjaymohan Singh Rawat
Name Of Signatory Affirmations
Sanjaymohan Singh Rawat
Name Of Signatory For Annual Affirmations
Sanjaymohan Singh Rawat
Name Of Signatory For Quartely Affirmations
Sanjaymohan Singh Rawat
Name Of The Company
NECTAR LIFESCIENCES LIMITED
New Name And The Old Name Of The Listed Entity
Not Applicable
Other Corporate Governance Requirements With Respect To Subsidiary Of Listed Entity
Yes
Place
Chandigarh
Plans For Orderly Succession For Appointments
Yes
Policy For Determining Material Subsidiaries
Yes
Policy For Related Party Transaction
Yes
Policy On Dealing With Related Party Transactions
Yes
Reason For Part F Of Annexure I Of The SEBI Circular Dated31December2024Related To Disclosure Of Loans Or Guarantees Or Comfort Letters Or Securities Etc Is Not Applicable To The Entity
The Company has not provided any loans, guarantees, comfort letters, securities, or similar arrangements to any of its promoters, promoter group entities, directors (including their relatives), key managerial personnel (KMPs), or any entities controlled by them. This above disclosure is not applicable and excludes: 1. Loans granted by the Company to its wholly owned subsidiary, Avnesis Exports Private Limited; and/or 2. Loans provided to employees or directors in accordance with the terms of their service conditions.
Recommendation Of Board
Yes
Reporting Quarter
Yearly
Review Of Compliance Reports
Yes
Risk Assessment And Management
Yes
Schedule Of Analyst Or Institutional Investor Meet And Presentation Prepared By Listed Entity For Analyst Or Institutional Investor Meet
Yes
SCORES Registration ID
n00069
Scrip Code
532649
Secretarial Compliance Report
Yes
Separate Audited Financial Statements Of Each Subsidiary Of The Listed Entity
Yes
Shareholding Pattern
Yes
Statements Of Deviations Or Variations As Specified In Regulation32
Not Applicable
Symbol
NECLIFE
The Listed Entity Has Approved Material Subsidiary Policy And The Corporate Governance Requirements With Respect To Subsidiary Of Listed Entity Have Been Complied
Yes
Type Of Company
Equity
Type Of Submission
Original
Vacancies In Respect Key Managerial Personnel
Yes
Vigil Mechanism
Yes
Whether As Per Sub Regulation2ba Of Regulation27Of SEBILODR There Has Been Cyber Security Incidents During The Quarter
No
Whether Part A Of Annexure I Of The SEBI Circular Dated31December2024Related To Compliance Report On Corporate Governance Is Applicable To The Entity
Yes
Whether Part F Of Annexure I Of The SEBI Circular Dated31December2024Related To Disclosure Of Loans Or Guarantees Or Comfort Letters Or Securities Etc Is Applicable To The Entity
No

Additional Disclosures

Entry D_MeetingBOD1
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingBOD2
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingBOD3
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingBOD4
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingComit1
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingComit2
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingComit3
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingComit4
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingComit5
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingComit6
Whether Requirement Of Quorum Met
Yes
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Board Composition — Entity Disclosures

The Composition Of Board Of Directors Is In Terms Of Sebi Regulations2015
Yes
Chairperson Related to MD / CEO
Yes
Regular Chairperson
Yes

Composition of Board of Directors

SrTitleDirectorPANDINCategory 1Category 2Category 3Date of BirthDisqualifiedStatusSpecial ResolutionSpecial Resolution DateInitial AppointmentRe-appointmentTenure (months)Listed DirectorshipsIndependent DirectorshipsAudit / Stakeholder MembershipsAudit / Stakeholder Chair Posts
1MrSANJIV GOYAL******00002841Executive DirectorChairperson related to PromoterMD12-Jun-1960NoActiveNot Applicable27-Jun-199531-May-20251020
2MrRUPINDER TEWARI******07009485Non-Executive - Independent DirectorNot Applicable27-Sep-1956NoActiveNot Applicable11-Feb-201911-Feb-2024862221
3MrKULDIP KUMAR BHASIN******09250008Non-Executive - Independent DirectorNot Applicable28-Apr-1950NoActiveYes21-Sep-202121-Sep-202121-Sep-2021552231
4MsINDU PAL KAUR******09686862Non-Executive - Independent DirectorNot Applicable04-Oct-1965NoActiveNot Applicable02-Aug-202202-Aug-2022441110
5MrSURULICHAMY SENTHILKUMAR******11124083Non-Executive - Non Independent DirectorNot Applicable30-May-1973NoActiveNot Applicable01-Jun-202501-Jun-20251010
6MrSUSHIL KAPOOR******00063525Executive DirectorNot Applicable12-Jul-1958NoActiveNot Applicable04-Dec-202504-Dec-20251000

Committee Disclosures

Entry CompComit122
Date of Appointment
28-May-2014
Entry CompComit123
Date of Appointment
21-Sep-2021
Entry CompComit124
Date of Appointment
01-Jun-2025
Entry CompComit14
Date of Appointment
01-Apr-2020
Entry CompComit15
Date of Appointment
21-Sep-2021
Entry CompComit16
Date of Appointment
02-Aug-2022
Entry CompComit17
Date of Appointment
02-Aug-2022
Entry CompComit41
Date of Appointment
13-Feb-2021
Entry CompComit42
Date of Appointment
21-Sep-2021
Entry CompComit43
Date of Appointment
15-Aug-2024
Entry CompComit68
Date of Appointment
15-Aug-2024
Entry CompComit69
Date of Appointment
13-Feb-2015
Entry CompComit70
Date of Appointment
01-Jun-2025
Entry CompComit95
Date of Appointment
02-Aug-2022
Entry CompComit96
Date of Appointment
23-Jul-2021
Entry CompComit97
Date of Appointment
15-Nov-2025
Entry MainD
Composition And Role Of Risk Management Committee
Yes
Composition Of Audit Committee
Yes
Composition Of Nomination And Remuneration Committee
Yes
Composition Of Stakeholder Relationship Committee
Yes
Composition Of Various Committees Of Board Of Directors
Yes
Disclosure Web Link Of Company At Which Composition Of Various Committees Of Board Of Directors Is Placed
https://www.neclife.com/about-3-6
Memberships In Committees
Yes
Prior Or Omnibus Approval Of Audit Committee For All Related Party Transactions
Yes
Risk Management Committee
Yes
Role Of Audit Committee And Information To Be Reviewed By The Audit Committee
Yes
Role Of Nomination And Remuneration Committee
Yes
Role Of Stakeholders Relationship Committee
Yes
The Committee Members Have Been Made Aware Of Their Powers Role And Responsibilities As Specified In Sebi Regulations2015
Yes
The Composition Of Audit Committee Is In Terms Of Sebi Regulations2015
Yes
The Composition Of The Nomination And Remuneration Committee Is In Terms Of Sebi Regulations2015
Yes
The Composition Of The Risk Management Committee Is In Terms Of Sebi Regulations2015
Yes
The Composition Of The Stakeholders Relationship Committee Committee Is In Terms Of Sebi Regulations2015
Yes
Whether The Audit Committee Has A Regular Chairperson
Yes
Whether The Corporate Social Responsibility Committee Has A Regular Chairperson
Yes
Whether The Nomination And Remuneration Committee Has A Regular Chairperson
Yes
Whether The Risk Management Committee Has A Regular Chairperson
Yes
Whether The Stakeholders Relationship Committee Has A Regular Chairperson
Yes

Audit Committee

Additional Position
Chairperson
Director DIN
07009485
Member Name
RUPINDER TEWARI
Notes
Dr. Rupinder has been appointed as a member of Audit Committee with effect from 01.04.2020 and as a Chairman with effect from 02.08.2022.
Position
Non-Executive - Independent Director

Audit Committee

Additional Position
Member
Director DIN
09250008
Member Name
KULDIP KUMAR BHASIN
Position
Non-Executive - Independent Director

Audit Committee

Additional Position
Member
Director DIN
09686862
Member Name
INDU PAL KAUR
Position
Non-Executive - Independent Director

Audit Committee

Additional Position
Member
Director DIN
00002841
Member Name
SANJIV GOYAL
Position
Executive Director

Audit Committee

Audit Committee

Corporate Social Responsibility Committee

Additional Position
Chairperson
Director DIN
00002841
Member Name
SANJIV GOYAL
Position
Executive Director

Corporate Social Responsibility Committee

Additional Position
Member
Director DIN
09250008
Member Name
KULDIP KUMAR BHASIN
Position
Non-Executive - Independent Director

Corporate Social Responsibility Committee

Additional Position
Member
Director DIN
11124083
Member Name
SURULICHAMY SENTHILKUMAR
Position
Non-Executive - Non Independent Director

Nomination and remuneration committee

Additional Position
Chairperson
Director DIN
07009485
Member Name
RUPINDER TEWARI
Position
Non-Executive - Independent Director

Nomination and remuneration committee

Additional Position
Member
Director DIN
09250008
Member Name
KULDIP KUMAR BHASIN
Position
Non-Executive - Independent Director

Nomination and remuneration committee

Additional Position
Member
Director DIN
09686862
Member Name
INDU PAL KAUR
Position
Non-Executive - Independent Director

Nomination and remuneration committee

Nomination and remuneration committee

Other Committee

Additional Position
Chairperson
Director DIN
00002841
Member Name
SANJIV GOYAL
Name Of Other Committee
MANAGEMENT COMMITTEE
Position
Executive Director

Other Committee

Additional Position
Member
Director DIN
11124083
Member Name
SURULICHAMY SENTHILKUMAR
Name Of Other Committee
MANAGEMENT COMMITTEE
Position
Non-Executive - Non Independent Director

Other Committee

Additional Position
Member
Director DIN
00063525
Member Name
SUSHIL KAPOOR
Name Of Other Committee
MANAGEMENT COMMITTEE
Position
Executive Director

Risk Management Committee

Additional Position
Chairperson
Director DIN
00002841
Member Name
SANJIV GOYAL
Position
Executive Director

Risk Management Committee

Additional Position
Member
Director DIN
07009485
Member Name
RUPINDER TEWARI
Position
Non-Executive - Independent Director

Risk Management Committee

Additional Position
Member
Director DIN
00063525
Member Name
SUSHIL KAPOOR
Position
Executive Director

Risk Management Committee

Stakeholders Relationship Committee

Additional Position
Chairperson
Director DIN
09250008
Member Name
KULDIP KUMAR BHASIN
Position
Non-Executive - Independent Director

Stakeholders Relationship Committee

Additional Position
Member
Director DIN
00002841
Member Name
SANJIV GOYAL
Position
Executive Director

Stakeholders Relationship Committee

Additional Position
Member
Director DIN
11124083
Member Name
SURULICHAMY SENTHILKUMAR
Position
Non-Executive - Non Independent Director

Stakeholders Relationship Committee

Entry MainD
Gap Between The Meetings Of The Risk Management Committee
Yes
Meeting Of Audit Committee
Yes
Meeting Of Board Of Directors
Yes
Meeting Of Independent Directors
Yes
Meeting Of Nomination And Remuneration Committee
Yes
Meeting Of Risk Management Committee
Yes
Meeting Of Stakeholders Relationship Committee
Yes
Quorum Of Board Meeting
Yes
Quorum Of Nomination And Remuneration Committee Meeting
Yes
Quorum Of Risk Management Committeemeeting
Yes
The Meetings Of The Board Of Directors And The Above Committees Have Been Conducted In The Manner As Specified In Sebi Regulations2015
Yes
Entry MeetingBOD1
Dates Of Meeting In The Previous Quarter
14-Nov-2025
Number Of Directors Present In Meeting Of Board Of Directors
4
Number Of Independent Directors Attending The Meeting
3
Total Number Of Directors As On Date Of The Meeting
5
Entry MeetingBOD2
Dates Of Meeting In The Previous Quarter
03-Dec-2025
Number Of Directors Present In Meeting Of Board Of Directors
5
Number Of Independent Directors Attending The Meeting
3
Total Number Of Directors As On Date Of The Meeting
5
Entry MeetingBOD3
Dates Of Meeting If Any In The Relevant Quarter
23-Jan-2026
Maximum Gap Between Any Two Consecutive Meetings
50
Number Of Directors Present In Meeting Of Board Of Directors
6
Number Of Independent Directors Attending The Meeting
3
Total Number Of Directors As On Date Of The Meeting
6
Entry MeetingBOD4
Dates Of Meeting If Any In The Relevant Quarter
02-Mar-2026
Number Of Directors Present In Meeting Of Board Of Directors
6
Number Of Independent Directors Attending The Meeting
3
Total Number Of Directors As On Date Of The Meeting
6
Entry MeetingComit1
Dates Of Meeting Of The Committee In The Previous Quarter
14-Nov-2025
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
4
Number Of Independent Director Attending Meeting Of Committee
3
Number Of Member Attending Meeting Of Committee
0
Total Number Of Directors As On Date Of The Meeting
4
Entry MeetingComit2
Dates Of Meeting Of The Committee In The Relevant Quarter
23-Jan-2026
Maximum Gap Between Any Two Consecutive Meetings
69
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
4
Number Of Independent Director Attending Meeting Of Committee
3
Number Of Member Attending Meeting Of Committee
0
Total Number Of Directors As On Date Of The Meeting
4
Entry MeetingComit3
Dates Of Meeting Of The Committee In The Previous Quarter
03-Dec-2025
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
3
Number Of Independent Director Attending Meeting Of Committee
3
Number Of Member Attending Meeting Of Committee
0
Total Number Of Directors As On Date Of The Meeting
3
Entry MeetingComit4
Dates Of Meeting Of The Committee In The Relevant Quarter
23-Jan-2026
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
3
Number Of Independent Director Attending Meeting Of Committee
3
Number Of Member Attending Meeting Of Committee
0
Total Number Of Directors As On Date Of The Meeting
3
Entry MeetingComit5
Dates Of Meeting Of The Committee In The Previous Quarter
14-Nov-2025
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
3
Number Of Independent Director Attending Meeting Of Committee
1
Number Of Member Attending Meeting Of Committee
0
Total Number Of Directors As On Date Of The Meeting
3
Entry MeetingComit6
Dates Of Meeting Of The Committee In The Relevant Quarter
24-Feb-2026
Maximum Gap Between Any Two Consecutive Meetings
101
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
3
Number Of Independent Director Attending Meeting Of Committee
1
Number Of Member Attending Meeting Of Committee
0
Total Number Of Directors As On Date Of The Meeting
3
Entry MainD
Contact Information Of The Designated Officials Of The Listed Entity Who Are Responsible For Assisting And Handling Investor Grievances
Yes
Disclosure Web Link Of Company At Which Contact Information Of The Designated Officials Of The Listed Entity Who Are Responsible For Assisting And Handling Investor Grievances Is Placed
https://www.neclife.com/about-3-16
Disclosure Web Link Of Company At Which Email Address For Grievance Redressal And Other Relevant Details Is Placed
https://www.neclife.com/investor-relations
Email Address For Grievance Redressal And Other Relevant Details
Yes
No Of Investor Complaints Disposed Off During The Period
1
No Of Investor Complaints During The Period
0
No Of Investor Complaints Received During The Period
1
Whether Part B Of Annexure I Of The SEBI Circular Dated31December2024Related To Investor Grievance Redressal Report Is Applicable To The Entity
Yes
Entry MainI
No Of Investor Complaints
0
Entry PY_I
No Of Investor Complaints
0
Composition Of Board Of Directors Of Unlisted Material Subsidiary
Not Applicable
Reason For Part C Of Annexure I Of The SEBI Circular Dated31December2024Related To Disclosure Of Acquisition Of Shares Or Voting Rights In Unlisted Companies Is Not Applicable To The Entity
The Nectar Lifesciences Limited ("NLL") has shareholding in the following unlisted companies: 1. Nimbua Greenfeild (Punjab) Limited - 50000 equity shares (3.36%) 2. Mohali Green Environment Private Limited - 185000 equity shares (19.58%) 3. Thane Janta Sehkari Bank Limited - 20 equity shares (0.00%) 4. Saraswat Co-operative Bank Limited - 2500 equity shares (0.00%) 5. NECLIFE PT, UNIPESSOAL LDA, Portugal - 1000 shares (100%). The NECLIFE PT, UNIPESSOAL LDA incorporated in Portugal in FY 2019-20 is a wholly owned subsidiary ("WOS") of NLL. Though it is not a Company within the meaning of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 ("LODR Regs"), but we are disclosing it here for being better clarity and disclosure. However, during the quarter ended March 31, 2026, NLL acquired 80,000 equity shares (100%) in Avensis Exports Private Limited (AEPL), as a result of which AEPL became a WOS of NLL. The requisite disclosures in this regard have been made to the stock exchanges in accordance with Regulation 30 of the LODR Regs. Apart from the aforesaid acquisition of AEPL, there has been no change in NLLs shareholding in unlisted companies.
Whether Part C Of Annexure I Of The SEBI Circular Dated31December2024Related To Disclosure Of Acquisition Of Shares Or Voting Rights In Unlisted Companies Is Applicable To The Entity
No
Entry I_OngoingTaxLitigationsOrDisputes1
Current Status
Pending before Commissioner of Income Tax (Appeals), Gurgaon.
Date of Initiation
29-Apr-2022
Opposing Party
Deputy Commissioner of Income Tax, Central Circle - 1, Chandigarh
Status (Previous Disclosure)
The Tax impact of Rs. 11.37 crores (by way of reduction in MAT credit) on account of various additions/ disallowances for AY 2015-16. The case is pending before Commissioner of Income Tax (Appeals), Gurgaon.
Entry I_OngoingTaxLitigationsOrDisputes10
Current Status
Pending before Hon'ble Income Tax Appellate Tribunal Chandigarh.
Date of Initiation
16-Mar-2024
Opposing Party
Deputy Commissioner of Income Tax, Central Circle - 1, Chandigarh
Status (Previous Disclosure)
Tax impact of Rs. 1.00 crores on account of various additions/ disallowances for Assessment Year (AY) - 2021-22. On 16.03.2024, it was not disclosed as it was not material at that time. However, materiality threshold has been reduced after finalisation of accounts of FY 2023-24. The Company has filed the appeal on 16.03.2024 which is pending before Hon'ble Income Tax Appellate Tribunal Chandigarh.
Entry I_OngoingTaxLitigationsOrDisputes11
Current Status
The matter is pending before CESTAT, Chandigarh
Date of Initiation
01-Nov-2022
Opposing Party
Dy. Comm. CGST Derabassi
Status (Previous Disclosure)
The Company had imported raw materials under Advance Licences issued by the Directorate General of Foreign Trade and availed exemption from applicable duties. However, due to shortage and/or cancellation of export orders, the Company was unable to fulfill the prescribed export obligations. Accordingly, the Company paid the applicable duties along with interest for closure of the Advance Licences. Subsequently, the Company applied for a refund of such duties; however, the refund claims were rejected by the Deputy Commissioner. The matter is currently pending before the Customs Excise and Service Tax Appellate Tribunal (“CESTAT”), Chandigarh. In the event of a favourable decision, the Company would be entitled to a refund of ₹2.15 crore. In case of an adverse decision, no further financial liability is expected to arise.
Entry I_OngoingTaxLitigationsOrDisputes12
Current Status
The matter is pending before CESTAT, Chandigarh
Date of Initiation
04-Jan-2023
Opposing Party
Dy. Comm. CGST Derabassi
Status (Previous Disclosure)
The Company imported raw materials under Advance Licences issued by the Directorate General of Foreign Trade and availed exemption from applicable duties. However, due to shortage and/or cancellation of export orders, the Company was unable to fulfill the stipulated export obligations. Accordingly, the Company paid the applicable duties along with interest for closure of the Advance Licences. Thereafter, the Company filed refund claims, which were initially rejected by the Assistant/Deputy Commissioner, GST, Derabassi. On appeal, the Commissioner (Appeals), GST, Ludhiana allowed the Company’s claims. Subsequently, the Assistant/Deputy Commissioner, GST, Derabassi filed a further appeal against the order of the Commissioner (Appeals). Pending adjudication, the Company has received a refund of ₹52.07 crore in accordance with applicable GST refund provisions. The matter is currently pending before the CESTAT, Chandigarh. In the event of an adverse decision, the Company would be required to reverse the refund amount of ₹52.07 crore along with applicable interest at 12% per annum from the date of receipt of the refund. Raw materials imported against Advance license issued by Directorate General of Foreign Trade ("DGFT") and exemption of Duties was availed by the Company. However, due to Shortage / Cancelation of export orders, export obligations could not be fulfilled, and the duties were paid with interest for closure of Advance licenses. Therefore, we had applied for refunds of the same which was rejected by Assistant Commissioner ("AC") Goods and Services Taxes ("GST"), Derabassi. Despite that, the same was allowed by Commissioner Appeals GST Ludhiana. Now, AC/Deputy Commissioner ("DC") GST Derabassi had filed an appeal against the order of Commissioner Appeals but allowed us refund of 52.07 Crore as per GST refund rules. In case the matter will be decided against the Company, then the Company has to reverse the refund amount of Rs. 52.07 Crore along with interest @ 12% from the date of receipt of refund amount. The matter is pending before CESTAT, Chandigarh
Entry I_OngoingTaxLitigationsOrDisputes13
Current Status
The matter is pending before CESTAT, Chandigarh
Date of Initiation
31-Jan-2023
Opposing Party
CGST Commissioner Jammu.
Status (Previous Disclosure)
The Company was availing benefits of Notification No. 56/2002CE Dt. 14.11.2002 through self-credit facility in respect of refund paid through Account Current on the product named Menthol' at Jammu Unit. The aforesaid Notification was amended vide another Notification No. 34/2008 dated 10.06.2008 and the credit was allowed for duties paid through PLA only of 56 % of value addition whichever is lower. The Refund amount of Rs. 3.61 Crore has to be reversed along with 12% interest. The matter is pending before CESTAT, Chandigarh
Entry I_OngoingTaxLitigationsOrDisputes14
Current Status
The matter is pending before CESTAT, Mumbai
Date of Initiation
27-Dec-2023
Opposing Party
Office of the Principal Commissioner of Customs (Adjudication), New Custom House, Ballard Estate, Mumbai.
Status (Previous Disclosure)
The Principal Commissioner of Customs (Adjudication), New Custom House, Ballard Estate, Mumbai has observed the non-compliance of "Pre-import condition" set out in notification no. 79/2017 dated October 13, 2017. The company has already paid the principal of Rs. 2,35,59,071/- along with interest of Rs. 1,97,79,890/- and is now contesting for recovery of wrong recovery of interest of Rs. 1,97,79,890/- and penalty. Date of Adjudication/ date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority: March 14, 2024. Appeal filed on 25.04.2024 with Hon'ble CESTAT, Mumbai.
Entry I_OngoingTaxLitigationsOrDisputes15
Current Status
The Principal Commissioner of CGST Commissionerate, Ludhiana, has filled Civil writ petition with Hon’ble High Court of Punjab and Haryana, challenging the aforesaid order dated May 27, 2025, of Commissioner (Appeal) The Company strongly contests the contentions raised in the said writ petition and shall file an appropriate response before the Hon’ble High Court. The matter has been fixed for hearing on April 28, 2026 The Compliant u/s 132 is pending in the Court of Chief Judicial Magistrate, Ludhiana.
Date of Initiation
21-Feb-2024
Opposing Party
Additional Commissioner GST Sub. Commissionerate, Mohali, Chandigarh
Status (Previous Disclosure)
The Company filed an appeal on May 21, 2024 before the Commissioner (Appeals), GST Commissionerate, Ludhiana, against the order dated February 21, 2024 passed by the Additional Commissioner. Subsequently, the Commissioner (Appeals), vide order dated May 27, 2025, has held as under: 1. Confirmed only Rs. 17.06 lakh of ineligible ITC (CGST Rs. 8.53 lakh and SGST Rs. 8.53 lakh) and imposed an equivalent penalty. The balance demand of Rs. 89.32 crore, along with interest and penalties, has been fully dropped. 2. Remanded the demand of Rs. 6.24 crore to the proper officer for de novo adjudication in accordance with GST law, along with appropriation of taxes and interest already paid. 3. Quashed the penalties imposed on Mr. Sanjiv Goyal, Chairman & Managing Director, and Mr. R. K. Aggarwal and Mr. Sandeep Goel, former employees of the Company. Further, a complaint under Section 132 of the CGST Act, 2017 read with the provisions of the IGST Act, 2017 has been filed by the Superintendent (Anti-Evasion), CGST Commissionerate, Ludhiana, before the Court of the Chief Judicial Magistrate, Ludhiana. The matter is currently pending.
Entry I_OngoingTaxLitigationsOrDisputes16
Current Status
Pending before Hon'ble High Court of Punjab and Haryana at Chandigarh.
Date of Initiation
01-Mar-2024
Opposing Party
Commissioner of Central Excise and Service Tax, Chandigarh II against the order of Customs Excise and Service Tax Appellate Tribunal ("CESTAT") passed in favour of the Company.
Status (Previous Disclosure)
The matter pertains to an appeal filed by the department against the order of CESTAT passed on August 28, 2018. The matter as alleged is regarding probably wrong availment of cenvat credit amounting to Rs. 21,20,43,117/- (cenvat of Rs. 20,58,67,104/- + Education Cess of Rs. 41,17,342/- and Secondary and Higher Education ("SHE") Cess of Rs. 20,58,671/-) during the period from 12/2007 to 02/2010 on Menthol products hereinafter called as impugned goods which appeared to the Department has been fraudulently passed on to the Company by M/s Narbada Industries Jammu, a wholly owned unit of the Company. The Department observes that it appears to them that the impugned goods have not been produced by M/s Narbada Industries, Jammu but it only resorted to the creation of fraudulent documents showing protection, removal and transport of goods on paper. In case the matter is decided against the Company, the credit of Rs. 21,20,43,117/- along with interest and penalty would have to be reversed. However, the Appeal for that would lie with Supreme Court if required. Matter is pending before Hon'ble High Court of Punjab and Haryana at Chandigarh.
Entry I_OngoingTaxLitigationsOrDisputes17
Current Status
The CWP is pending with Hon'ble High Court of Punjab and Haryana. The Company would seek interest for the undue block period.
Date of Initiation
25-Sep-2024
Opposing Party
CGST Commissioner Ludhiana
Status (Previous Disclosure)
An amount of ₹16.61 crore of Input Tax Credit (“ITC”) was blocked by the CGST Commissioner, Ludhiana. The Company filed a writ petition bearing CWP-1696-2025-GST dated January 20, 2025, before the Hon’ble High Court of Punjab and Haryana. As at that stage, the ITC amount of ₹16.61 crore remained blocked and unutilized. Subsequently, the ITC amounting to ₹16,61,81,454/- was unblocked on June 30, 2025 by the CGST Commissioner, Ludhiana, possibly pursuant to the order dated May 27, 2025 passed by the Commissioner (Appeals) in favour of the Company in a separate matter, as disclosed at Sr. No. 15.
Entry I_OngoingTaxLitigationsOrDisputes18
Current Status
The matter is pending with Commissioner (Appeals).
Date of Initiation
20-Nov-2024
Opposing Party
Assistant Commissioner Central Goods & Service Tax, Division-II, Derabassi Mohali (Punjab) (Asst. Commissioner)
Status (Previous Disclosure)
The Asst. Commissioner passed an order that in Financial Year 2021-22, the Company has excess availed Input Tax Credit ("ITC") amounting to Rs.1,01,88,649/- alongwith interest and penalty in GSTR3B as comparison to available in GSTR2A. The ITC availed by the Company is not an eligible ITC as per Section 16 read with Rule 36 of CGST Rules 2017 as challan (TR-6) is not a valid document to avail ITC. However, the Company had paid challans (TR-6) of import duty (IGST) at Customs amounting to Rs. 1,01,88,649/- on imports done against advance license (Bill of entries pertaining to the period 2017-18 and 2018-19) in month of February 2022. The Company filed an appeal on 22.01.2025 with Commissioner (Appeals) against the order passed by Asst. Commissioner. The financial implication were: In case the matter is decided against the Company by Commissioner (Appeals), there would be reversal of ITC of Rs. 1,01,88,649/- along with interest and penalty thereon. However, the Appeal for that would lie with CESTAT, then High Court and Supreme Court if required
Entry I_OngoingTaxLitigationsOrDisputes19
Current Status
The Company has received a OIO dated August 26, 2025 issued by Assistant Commissioner in connection with rejection of the refund claimed totalling Rs. 3,50,18,429/-. The Company has filled appeal on October 09, 2025 with Commissioner (Appeals) against the order passed by Asst. Commissioner. In case the matter gets decided in favour, the Company will get a refund of Rs. 3.50 Crore.
Date of Initiation
25-Jun-2025
Opposing Party
Office of Assistant Commissioner, Central GST, Division-II, Derabassi, Zirakpur, Distt. Mohali-140603 (Adjudicating Authority)
Status (Previous Disclosure)
The Advance license issued by DGFT and exemption of duties was availed. However, due to Shortage / Cancelation of export orders, export obligations could not be fulfilled. Despite that, the duties were paid with interest for closure of Advance licenses. Therefore, the Company had applied for refunds of the same for the period of 2016-17. The Company has received a SCN dated June 25, 2025, issued by Adjudicating Authority asking why the refund claim of Rs. 3,50,18,429/- should not be rejected. The Company is of the opinion that the SCN has no merits and the Company would make its submissions before the Adjudicating Authority within the given timelines.
Entry I_OngoingTaxLitigationsOrDisputes2
Current Status
Pending before Hon'ble High Court of Punjab and Haryana.
Date of Initiation
01-Oct-2022
Opposing Party
Deputy Commissioner of Income Tax, Central Circle - 1, Chandigarh through The Principal Commissioner of Income Tax (Central), Gurugram
Status (Previous Disclosure)
The Tax impact of Rs. 10.83 crores (by way of reduction in MAT credit) on account of addition of power plant profitability for AY 2014-15. The case is pending before Hon'ble High Court of Punjab and Haryana.
Entry I_OngoingTaxLitigationsOrDisputes3
Current Status
Pending before Hon'ble High Court of Punjab and Haryana.
Date of Initiation
02-Nov-2022
Opposing Party
Deputy Commissioner of Income Tax, Central Circle - 1, Chandigarh through The Principal Commissioner of Income Tax (Central), Gurugram
Status (Previous Disclosure)
The Tax impact of Rs. 8.23 crores (by way of reduction in MAT credit) on account of addition of power plant profitability for AY 2015-16. The case is pending before Hon'ble High Court of Punjab and Haryana.
Entry I_OngoingTaxLitigationsOrDisputes4
Current Status
Pending before Hon'ble Income Tax Appellate Tribunal Chandigarh.
Date of Initiation
16-Mar-2024
Opposing Party
Deputy Commissioner of Income Tax, Central Circle - 1, Chandigarh
Status (Previous Disclosure)
The Tax impact of Rs. 19.38 crores (by way of reduction in MAT credit) on account of various additions/ disallowances for AY 2016-17. The case is pending before Hon'ble Income Tax Appellate Tribunal Chandigarh.
Entry I_OngoingTaxLitigationsOrDisputes5
Current Status
Pending before Hon'ble Income Tax Appellate Tribunal Chandigarh.
Date of Initiation
18-Mar-2024
Opposing Party
Deputy Commissioner of Income Tax, Central Circle - 1, Chandigarh
Status (Previous Disclosure)
The Tax impact of Rs. 14.09 crores (by way of reduction in MAT credit) on account of various additions/ disallowances for AY 2018-19. The case is pending before Hon'ble Income Tax Appellate Tribunal Chandigarh.
Entry I_OngoingTaxLitigationsOrDisputes6
Current Status
Pending before Hon'ble Income Tax Appellate Tribunal Chandigarh.
Date of Initiation
18-Mar-2024
Opposing Party
Deputy Commissioner of Income Tax, Central Circle - 1, Chandigarh
Status (Previous Disclosure)
The Tax impact of Rs. 13.17 crores (by way of reduction in MAT credit) on account of various additions/ disallowances for AY 2019-20. The case is pending before Hon'ble Income Tax Appellate Tribunal Chandigarh.
Entry I_OngoingTaxLitigationsOrDisputes7
Current Status
Pending before Hon'ble Income Tax Appellate Tribunal Chandigarh.
Date of Initiation
18-Mar-2024
Opposing Party
Deputy Commissioner of Income Tax, Central Circle - 1, Chandigarh
Status (Previous Disclosure)
The Tax impact of Rs. 10.65 crores (by way of reduction in MAT credit) on account of various additions/ disallowances for AY 2020-21. The case is Pending before Hon'ble Income Tax Appellate Tribunal Chandigarh.
Entry I_OngoingTaxLitigationsOrDisputes8
Current Status
Pending before Hon'ble Income Tax Appellate Tribunal Chandigarh.
Date of Initiation
20-Mar-2024
Opposing Party
Deputy Commissioner of Income Tax, Central Circle - 1, Chandigarh
Status (Previous Disclosure)
Tax impact of Rs. 20.02 crores (by way of reduction in MAT credit) on account of various additions/ disallowances for AY 2017-18. The case is pending before Hon'ble Income Tax Appellate Tribunal Chandigarh.
Entry I_OngoingTaxLitigationsOrDisputes9
Current Status
The objections filed by the Company for Assessment Year 2017-18 before the Deputy Commissioner of Income Tax, Central Circle - 1, Chandigarh have not yet been disposed off.
Date of Initiation
22-Nov-2024
Opposing Party
Deputy Commissioner of Income Tax, Central Circle - 1, Chandigarh
Status (Previous Disclosure)
The Company had filed a writ petition in Punjab and Haryana High Court seeking quashing of notices under Section 148 and 148(A)b of Income Tax Act 1961 whereby reassessment of the return of income filed for the assessment years 2017-2018 to 2021- 22 has been sought by the IT department. The Hon''ble High Court has directed the IT department to decide objections/representations filed by the Company, by passing speaking order within eight weeks from date of this order. The company has filed objections to above notices. The objections from assessment years 2018-19 to 2021-22 have been rejected by Deputy Commissioner of Income Tax, Central Circle - 1, Chandigarh. The Company had filed writ petitions challenging notices u/s 148 for re- opening of Income Tax Cases of the company for the Ass. Years 2018-19 to 2021-22 before Punjab & Haryana High Court, which have been allowed in favour of the Company vide orders dated 01.05.2025 & 07.05.2025. The objections filed by the Company for Assessment Year 2017-18 before the Deputy Commissioner of Income Tax, Central Circle - 1, Chandigarh have not yet been disposed off.
Entry MainD
Whether Part E Of Annexure I Of The SEBI Circular Dated31December2024Related To Disclosure Of Updates To Ongoing Tax Litigations Or Disputes Is Applicable To The Entity
Yes
Reason For Part D Of Annexure I Of The SEBI Circular Dated31December2024Related To Disclosure Of Imposition Of Fine Or Penalty Is Not Applicable To The Entity
During the period from 1st January, 2026 to 31st March, 2026, no fine or penalty was imposed in sub-para 20 of para A of Part A of Schedule III to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Whether Part D Of Annexure I Of The SEBI Circular Dated31December2024Related To Disclosure Of Imposition Of Fine Or Penalty Is Applicable To The Entity
No