Integrated Filing-Governance



General information about company

Scrip Code 532649
NSE Symbol NECLIFE
MSEI Symbol NOTLISTED
ISIN INE023H01027
Name of the entity NECTAR LIFESCIENCES LIMITED
Date of start of financial year 01-Apr-2025
Date of end of financial year 31-Mar-2026
Reporting Quarter Yearly
Date of Quarter Ending 31-Mar-2026
Type of company Equity
Whether Annexure I (Part A) of the SEBI Circular dated December 31, 2024 related to Compliance Report on Corporate Governance is applicable to the entity? Yes
Whether Annexure I (Part B) of the SEBI Circular dated December 31, 2024 related to Investor Grievance Redressal Report is Applicable to the entity? Yes
Whether Annexure I (Part C) of the SEBI Circular dated December 31, 2024 related to Disclosure of Acquisition of Shares or Voting Rights in Unlisted Companies is Applicable to the entity? No
Reason For Part C Of Annexure I Disclosure Of Acquisition Of Shares OrVotingRightsInUnlistedCompaniesIsNotApplicableToTheEntity 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 Annexure I (Part D) of the SEBI Circular dated December 31, 2024 related to Disclosure of Imposition of Fine or Penalty is Applicable to the entity? No
Reason For Part D Of Annexure I 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 Annexure I (Part E) of the SEBI Circular dated December 31, 2024 related to Disclosure of Updates to Ongoing Tax Litigations or Disputes is Applicable to the entity? Yes
Whether Annexure I (Part F) of the SEBI Circular dated December 31, 2024 related to Disclosure Of Loans / Guarantees / Comfort Letters / Securities Etc. is Applicable to the entity? No
Reason For Part F Of Annexure I 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.
Risk management committee Yes
Market Capitalisation as per immediate previous Financial Year Top 2000 listed entities
Is SCORE ID Available ? Yes
SCORE Registration ID n00069
Reason For No SCORE ID
Type of Submission New
Remarks (website dissemination)



Annexure I
Annexure I to be submitted by listed entity on quarterly basis
I. Composition of Board of Directors
Disclosure of notes on composition of board of directors explanatory
Whether the listed entity has a Regular Chairperson Yes
Whether Chairperson is related to MD or CEO Yes Disqualification of Directors under section 164 of the Companies Act, 2013
Sr Title (Mr / Ms) Name of the Director PAN DIN Category 1 of directors Category 2 of directors Category 3 of directors Date of Birth Whether the director is disqualified? Start Date of disqualification End Date of disqualification Details of disqualification Current status Whether special resolution passed? [Refer Reg. 17(1A) of Listing Regulations] Date of passing special resolution Initial Date of appointment Date of Re-appointment Date of cessation Tenure of director (in months) No of Directorship in listed entities including this listed entity (Refer Regulation 17A of Listing Regulations) No of Independent Directorship in listed entities including this listed entity [with reference to proviso to regulation 17A(1) & 17A(2)] Number of memberships in Audit/ Stakeholder Committee(s) including this listed entity (Refer Regulation 26(1) of Listing Regulations) No of post of Chairperson in Audit/ Stakeholder Committee held in listed entities including this listed entity (Refer Regulation 26(1) of Listing Regulations) Reason for Cessation Notes for not providing PAN Notes for not providing DIN
1 Mr. SANJIV GOYAL 00002841 Executive Director Chairperson related to Promoter MD 12-Jun-1960 No Active NA 27-Jun-1995 31-May-2025 1 0 2 0
2 Mr. RUPINDER TEWARI 07009485 Non-Executive - Independent Director Not Applicable 27-Sep-1956 No Active NA 11-Feb-2019 11-Feb-2024 86 2 2 2 1
3 Mr. KULDIP KUMAR BHASIN 09250008 Non-Executive - Independent Director Not Applicable 28-Apr-1950 No Active Yes 21-Sep-2021 21-Sep-2021 21-Sep-2021 55 2 2 3 1
4 Ms. INDU PAL KAUR 09686862 Non-Executive - Independent Director Not Applicable 04-Oct-1965 No Active NA 02-Aug-2022 02-Aug-2022 44 1 1 1 0
5 Mr. SURULICHAMY SENTHILKUMAR 11124083 Non-Executive - Non Independent Director Not Applicable 30-May-1973 No Active NA 01-Jun-2025 01-Jun-2025 1 0 1 0
6 Mr. SUSHIL KAPOOR 00063525 Executive Director Not Applicable 12-Jul-1958 No Active NA 04-Dec-2025 04-Dec-2025 1 0 0 0



Annexure 1

II. Composition of Committees
Disclosure of notes on composition of committees explanatory 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..



Audit Committee Details
Whether the Audit Committee has a Regular Chairperson Yes
Sr DIN Number Name of Committee members Category 1 of directors Category 2 of directors Date of Appointment Date of Cessation Remarks
1 07009485 RUPINDER TEWARI Non-Executive - Independent Director Chairperson 01-Apr-2020 Textual Information(1)
2 09250008 KULDIP KUMAR BHASIN Non-Executive - Independent Director Member 21-Sep-2021
3 09686862 INDU PAL KAUR Non-Executive - Independent Director Member 02-Aug-2022
4 00002841 SANJIV GOYAL Executive Director Member 02-Aug-2022



Text Block
Textual Information(1) 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.



Nomination and remuneration committee
Whether the Nomination and remuneration committee has a Regular Chairperson Yes
Sr DIN Number Name of Committee members Category 1 of directors Category 2 of directors Date of Appointment Date of Cessation Remarks
1 07009485 RUPINDER TEWARI Non-Executive - Independent Director Chairperson 13-Feb-2021
2 09250008 KULDIP KUMAR BHASIN Non-Executive - Independent Director Member 21-Sep-2021
3 09686862 INDU PAL KAUR Non-Executive - Independent Director Member 15-Aug-2024



Stakeholders Relationship Committee
Whether the Stakeholders Relationship Committee has a Regular Chairperson Yes
Sr DIN Number Name of Committee members Category 1 of directors Category 2 of directors Date of Appointment Date of Cessation Remarks
1 09250008 KULDIP KUMAR BHASIN Non-Executive - Independent Director Chairperson 15-Aug-2024
2 00002841 SANJIV GOYAL Executive Director Member 13-Feb-2015
3 11124083 SURULICHAMY SENTHILKUMAR Non-Executive - Non Independent Director Member 01-Jun-2025



Risk Management Committee
Whether the Risk Management Committee has a Regular Chairperson Yes
Sr DIN Number Name of Committee members Category 1 of directors Category 2 of directors Date of Appointment Date of Cessation Remarks
1 00002841 SANJIV GOYAL ED Chairperson 02-Aug-2022
2 07009485 RUPINDER TEWARI ID Member 23-Jul-2021
3 00063525 SUSHIL KAPOOR ED Member 15-Nov-2025



Annexure 1
III. Meeting of Board of Directors
Disclosure of notes on meeting of board of directors explanatory
Sr Date(s) of meeting (Enter dates of Previous quarter and Current quarter in chronological order) Maximum gap between any two consecutive (in number of days) Notes for not providing Date Whether requirement of Quorum met (Yes/No) Total Number of Directors as on date of the meeting Number of Directors present* (All directors including Independent Director) No. of Independent Directors attending the meeting*
1 14-Nov-2025 Yes 5 4 3
2 03-Dec-2025 Yes 5 5 3
3 23-Jan-2026 50 Yes 6 6 3
4 02-Mar-2026 Yes 6 6 3



Annexure 1
IV. Meeting of Committees
Disclosure of notes on meeting of committees explanatory
Sr Name of Committee Date(s) of meeting (Enter dates of Previous quarter and Current quarter in chronological order) Maximum gap between any two consecutive (in number of days) Name of other committee Reson for not providing date Whether requirement of Quorum met (Yes/No) Total Number of Directors in the Committee as on date of the meeting Number of Directors Present (All Directors including Independent Director) No. of Independent Directors attending the meeting* No. of members attending the meeting (other than Board of Directors)
1 Audit Committee 14-Nov-2025 Yes 4 4 3 0
2 Audit Committee 23-Jan-2026 69 Yes 4 4 3 0
3 Nomination and remuneration committee 03-Dec-2025 Yes 3 3 3 0
4 Nomination and remuneration committee 23-Jan-2026 Yes 3 3 3 0
5 Stakeholders Relationship Committee 14-Nov-2025 Yes 3 3 1 0
6 Risk Management Committee 24-Feb-2026 101 Yes 3 3 1 0



Annexure 1
VI. Affirmations
Sr Subject Compliance status (Yes/No)
1 The composition of Board of Directors is in terms of SEBI (Listing obligations and disclosure requirements) Regulations, 2015 Yes
2 The composition of the following committees is in terms of SEBI(Listing obligations and disclosure requirements) Regulations, 2015 a. Audit Committee Yes
3 The composition of the following committees is in terms of SEBI(Listing obligations and disclosure requirements) Regulations, 2015. b. Nomination & remuneration committee Yes
4 The composition of the following committees is in terms of SEBI(Listing obligations and disclosure requirements) Regulations, 2015. c. Stakeholders relationship committee Yes
5 The composition of the following committees is in terms of SEBI(Listing obligations and disclosure requirements) Regulations, 2015. d. Risk management committee (applicable to the top 1000 listed entities) Yes
6 The committee members have been made aware of their powers, role and responsibilities as specified in SEBI (Listing obligations and disclosure requirements) Regulations, 2015. Yes
7 The meetings of the board of directors and the above committees have been conducted in the manner as specified in SEBI (Listing obligations and disclosure requirements) Regulations, 2015 Yes
8 This report and/or the report submitted in the previous quarter has been placed before Board of Directors. Yes
9 Any comments/observations/advice of Board of Directors may be mentioned here: 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.



Annexure 1
Sr Subject Compliance status
1 Name of signatory Sanjaymohan Singh Rawat
2 Designation Company Secretary and Compliance Officer



Details of Cyber security incidence
Whether as per Regulation 27(2)(ba) of SEBI (LODR) Regulations, 2015 there has been cyber security incidents or breaches or loss of data or documents during the quarter No
Other details of cyber security incidence or breaches or loss of data event
Number of cyber security incidence or breaches or loss of data event occurred during the quarter
Sr Date of the event Brief details of the event



Annexure II to be submitted by listed entity at the end of the financial year (for the whole of financial year)
I. Disclosure on website in terms of LODR Regulation
Sr Item Compliance status (Yes/No/NA) If status is No details of non-compliance may be given here. Web address
1.1 Details of business Yes https://www.neclife.com/business-areas
1.2 Memorandum of Association and Articles of Association Yes https://www.neclife.com/memorandum-articles-of-association
1.3 Brief profile of board of directors including directorship and full time positions in body corporates Yes https://www.neclife.com/board
2 Terms and conditions of appointment of independent directors Yes https://www.neclife.com/about-3-10
3 Composition of various committees of board of directors Yes https://www.neclife.com/about-3-6
4 Code of conduct of board of directors and senior management personnel Yes https://www.neclife.com/code-of-conduct
5 Details of establishment of vigil mechanism or whistle blower policy Yes https://www.neclife.com/about-3-5
6 Criteria of making payments to non-executive directors NA
7 Policy on dealing with related party transactions Yes https://www.neclife.com/about-3-5
8 Policy for determining material subsidiaries Yes https://www.neclife.com/about-3-5
9 Details of familiarization programmes imparted to independent directors Yes https://www.neclife.com/about-3-11
10 Contact information of the designated officials of the listed entity who are responsible for assisting and handling investor grievances Yes https://www.neclife.com/about-3-16
11 Email address for grievance redressal and other relevant details Yes https://www.neclife.com/investor-relations
12 Financial results Yes https://www.neclife.com/about-1
13 Shareholding pattern Yes https://www.neclife.com/about-3-2
14 Details of agreements entered into with the media companies and/or their associates NA
15.1 Schedule of analyst or institutional investor meet and presentation prepared by listed entity for analyst or institutional investor meet Yes https://www.neclife.com/about-5
15.2 Audio or video recordings and transcripts of post earnings/quarterly calls NA
16 New name and the old name of the listed entity NA
17 Advertisements as per regulation 47 (1) Yes https://www.neclife.com/about-3-9
18 Credit rating or revision in credit rating obtained NA
19 Separate audited financial statements of each subsidiary of the listed entity Yes https://www.neclife.com/about-3-4
20 Secretarial compliance report Yes https://www.neclife.com/about-3-20
21 Materiality policy as per regulation 30 (4) Yes https://www.neclife.com/about-3-5
22 Disclosure of contact details of KMP who are authorized for the purpose of determining materiality as required under regulation 30(5) Yes https://www.neclife.com/about-3-18
23 Disclosures under regulation 30(8) Yes https://www.neclife.com/about-3-17
24 Statements of deviation(s) or variations(s) as specified in regulation 32 NA
25 Dividend distribution policy as specified in regulation 43A (1) Yes https://www.neclife.com/about-3-5
26.1 Annual return as provided under section 92 of the Companies Act 2013 Yes https://www.neclife.com/about-3-13
26.2 Employee benefit scheme documents framed in terms of SEBI (SBEB) regulations 2021
27 Confirmation that the above disclosures are in a separate section as specified in regulation 46(2) Yes https://www.neclife.com/investor-relations
28 Compliance with regulation 46(3) with respect to accuracy of disclosures on the website and timely updation Yes https://www.neclife.com/investor-relations
29 Disclosure of notes on website in terms of Listing Regulations explanatory


Annexure II
II. Annual Affirmations
Sr Particulars Regulation Number Compliance status (Yes/No/NA) If status is No details of non-compliance may be given here.
1 Independent director(s) have been appointed in terms of specified criteria of independence and/or eligibility 16(1)(b) Yes
2 Board Composition 17(1), 17(1A) & 17(1C), 17(1D) & 17(1E) Yes
3 Meeting Of Board Of Directors 17(2) Yes
4 Quorum of board meeting 17(2A) Yes
5 Review of Compliance Reports 17(3) Yes
6 Plans for orderly succession for appointments 17(4) Yes
7 Code of Conduct 17(5) Yes
8 Fees/compensation 17(6) Yes
9 Minimum Information 17(7) Yes
10 Compliance Certificate 17(8) Yes
11 Risk Assessment & Management 17(9) Yes
12 Performance Evaluation of Independent Directors 17(10) Yes
13 Recommendation of Board 17(11) Yes
14 Maximum number of Directorships 17A Yes
15 Composition of Audit Committee 18(1) Yes
16 Meeting of Audit Committee 18(2) Yes
17 Role of Audit Committee and information to be reviewed by the audit committee 18(3) Yes
18 Composition of nomination & remuneration committee 19(1) & (2) Yes
19 Quorum of Nomination and Remuneration Committee meeting 19(2A) Yes
20 Meeting of Nomination and Remuneration Committee 19(3A) Yes
21 Role of Nomination and Remuneration Committee 19(4) Yes
22 Composition of Stakeholder Relationship Committee 20(1), 20(2) & 20(2A) Yes
23 Meeting of Stakeholders Relationship Committee 20(3A) Yes
24 Role of Stakeholders Relationship Committee 20(4) Yes
25 Composition and role of risk management committee 21(1),(2),(3),(4) Yes
26 Meeting of Risk Management Committee 21(3A) Yes
27 Quorum of Risk Management Committee meeting 21(3B) Yes
28 Gap between the meetings of the Risk Management Committee 21(3C) Yes
29 Vigil Mechanism 22 Yes
30 Policy for related party Transaction 23(1), (1A), (5), (6), & (8) Yes
31 Prior or Omnibus approval of Audit Committee for all related party transactions 23(2), (3) Yes
32 Approval for material related party transactions 23(4) NA
33 Disclosure of related party transactions on consolidated basis 23(9) Yes
34 Composition of Board of Directors of unlisted material Subsidiary 24(1) NA
35 Other Corporate Governance requirements with respect to subsidiary of listed entity 24(2),(3),(4),(5) & (6) Yes
36 Alternate Director to Independent Director 25(1) Yes
37 Maximum Tenure 25(2) Yes
38 Appointment, Re-appointment or removal of an Independent Director through special resolution or the alternate mechanism 25(2A) Yes
39 Meeting of independent directors 25(3) & (4) Yes
40 Familiarization of independent directors 25(7) Yes
41 Declaration from Independent Director 25(8) & (9) Yes
42 Directors and Officers insurance 25(10) Yes
43 Confirmation with respect to appointment of Independent Directors who resigned from the listed entity 25(11) Yes
44 Memberships in Committees 26(1) Yes
45 Affirmation with compliance to code of conduct from members of Board of Directors and Senior management personnel 26(3) Yes
46 Policy with respect to Obligations of directors and senior management 26(2) & 26(5) Yes
47 Approval of the Board and shareholders for compensation or profit sharing in connection with dealings in the securities of the listed entity 26(6) NA
48 Vacancies in respect Key Managerial Personnel 26A(1) & 26A(2), 26A(3) Yes
Any other information to be provided - Add Notes Textual Information(1)



Text Block
Textual Information(1) 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.



Annexure II
III. Affirmations
Sr Particulars Compliance status (Yes/No/NA)
1 The Listed Entity has approved Material Subsidiary Policy and the Corporate Governance requirements with respect to subsidiary of Listed Entity have been complied Yes
Any other information to be provided



Annexure II
1 Name of signatory Sanjaymohan Singh Rawat
2 Designation Company Secretary and Compliance Officer



Additional Half yearly Disclosure
Any Other Information for Disclosure of Loans / Guarantees / Comfort Letters / Securities Etc.
I. Disclosure of Loans/ guarantees/comfort letters /securities etc.refer note below
(A)Any loan or any other form of debt advanced by the listed entity directly or indirectly to
Entity Aggregate amount advanced during six months Balance outstanding at the end of six months
Promoter or any other entity controlled by them
Promoter Group or any other entity controlled by them
Directors (including relatives) or any other entity controlled by them
KMPs or any other entity controlled by them
(B) Any guarantee / comfort letter (by whatever name called) provided by the listed entity directly or indirectly, in connection with any loan(s) or any other form of debt availed By
Entity Type (guarantee, comfort letter etc.) Aggregate amount of issuance during six months Balance outstanding at the end of six months(taking into account any invocation)
Promoter or any other entity controlled by them
Promoter Group or any other entity controlled by them
Directors (including relatives) or any other entity controlled by them
KMPs or any other entity controlled by them
(C) Any security provided by the listed entity directly or indirectly, in connection with any loan(s) or any other form of debt availed by
Entity Type of security (cash, shares etc.) Aggregate value of security provided during six months Balance outstanding at the end of six months
Promoter or any other entity controlled by them
Promoter Group or any other entity controlled by them
Directors (including relatives) or any other entity controlled by them
KMPs or any other entity controlled by them
(D) Additional Information
II. Affirmations
Affirmations Compliance Status Company Remarks
All loans (or other form of debt), guarantees, comfort letters (by whatever name called) or securities in connection with any loan(s) (or other form of debt) given directly or indirectly by the listed entity to promoter(s), promoter group, director(s) (including their relatives), key managerial personnel (including their relatives) or any entity controlled by them are in the economic interest of the company. $intratedCg.get("CG_YN_$!integratedFillingMasterDto.cgMasterVO.anx4aAffirmComplStatus")
Name
Designation
Place
Date



Signatory Details
Name of signatory Sanjaymohan Singh Rawat
Designation of person Company Secretary and Compliance Officer
Place Chandigarh
Date 28-Apr-2026


Investor Grievance Details
No. of investor complaints pending at the beginning of Quarter 0
No. of investor complaints received during the Quarter 1
No. of investor complaints disposed off during the Quarter 1
No. of investor complaints those remaining unresolved at the end of the Quarter 0


Disclosure of Acquisition of Shares or Voting Rights in Unlisted Companies-
The details of acquisition of shares or voting rights in unlisted companies during the quarter in terms of sub-para 1 of para A of Part A of Schedule III are given below
Any Other Information for Disclosure of Acquisition of Shares or Voting Rights in Unlisted Companies
Sr. No. Name of the unlisted company in which shares or voting rights have been acquired Date of acquisition Aggregate holding (% shares or voting rights) as at the end of the previous quarter % shares or voting rights acquired during the quarter Aggregate holding (% shares or voting rights) as at the end of the quarter


Disclosure of Imposition of Fine or Penalty
The details of imposition of fine or penalty during the quarter in terms of sub-para 20 of para A of Part A of Schedule III are given below:
Any Other Information for Disclosure of Imposition of Fine or Penalty
Sr. No. Name of the authority Nature and details of the action(s) taken or order(s) passed Date of receipt of direction or order, including any ad interim or interim orders, or any other communication from the authority Details of the violation(s)/ contravention(s) committed or alleged to be committed Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible


Disclosure of Updates to Ongoing Tax Litigations or Disputes
The updates on tax litigations or disputes in terms of sub-para 8 of para B of Part A of Schedule III read with corresponding provisions of Annexure 18 of the Master Circular are given below:

Any Other Information for Disclosure of Updates to Ongoing Tax Litigations or Disputes
Sr. No. Name of the opposing party Date of initiation of the litigation / dispute Status of the litigation / dispute as per last disclosure Current status of the litigation / dispute
1 Deputy Commissioner of Income Tax, Central Circle - 1, Chandigarh 29-Apr-2022 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. Pending before Commissioner of Income Tax (Appeals), Gurgaon.
2 Deputy Commissioner of Income Tax, Central Circle - 1, Chandigarh through The Principal Commissioner of Income Tax (Central), Gurugram 01-Oct-2022 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. Pending before Hon'ble High Court of Punjab and Haryana.
3 Deputy Commissioner of Income Tax, Central Circle - 1, Chandigarh through The Principal Commissioner of Income Tax (Central), Gurugram 02-Nov-2022 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. Pending before Hon'ble High Court of Punjab and Haryana.
4 Deputy Commissioner of Income Tax, Central Circle - 1, Chandigarh 16-Mar-2024 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. Pending before Hon'ble Income Tax Appellate Tribunal Chandigarh.
5 Deputy Commissioner of Income Tax, Central Circle - 1, Chandigarh 18-Mar-2024 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. Pending before Hon'ble Income Tax Appellate Tribunal Chandigarh.
6 Deputy Commissioner of Income Tax, Central Circle - 1, Chandigarh 18-Mar-2024 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. Pending before Hon'ble Income Tax Appellate Tribunal Chandigarh.
7 Deputy Commissioner of Income Tax, Central Circle - 1, Chandigarh 18-Mar-2024 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. Pending before Hon'ble Income Tax Appellate Tribunal Chandigarh.
8 Deputy Commissioner of Income Tax, Central Circle - 1, Chandigarh 20-Mar-2024 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. Pending before Hon'ble Income Tax Appellate Tribunal Chandigarh.
9 Deputy Commissioner of Income Tax, Central Circle - 1, Chandigarh 22-Nov-2024 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. 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.
10 Deputy Commissioner of Income Tax, Central Circle - 1, Chandigarh 16-Mar-2024 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. Pending before Hon'ble Income Tax Appellate Tribunal Chandigarh.
11 Dy. Comm. CGST Derabassi 01-Nov-2022 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. The matter is pending before CESTAT, Chandigarh
12 Dy. Comm. CGST Derabassi 04-Jan-2023 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 The matter is pending before CESTAT, Chandigarh
13 CGST Commissioner Jammu. 31-Jan-2023 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 The matter is pending before CESTAT, Chandigarh
14 Office of the Principal Commissioner of Customs (Adjudication), New Custom House, Ballard Estate, Mumbai. 27-Dec-2023 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. The matter is pending before CESTAT, Mumbai
15 Additional Commissioner GST Sub. Commissionerate, Mohali, Chandigarh 21-Feb-2024 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. 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.
16 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. 01-Mar-2024 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. Pending before Hon'ble High Court of Punjab and Haryana at Chandigarh.
17 CGST Commissioner Ludhiana 25-Sep-2024 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. The CWP is pending with Hon'ble High Court of Punjab and Haryana. The Company would seek interest for the undue block period.
18 Assistant Commissioner Central Goods & Service Tax, Division-II, Derabassi Mohali (Punjab) (Asst. Commissioner) 20-Nov-2024 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 The matter is pending with Commissioner (Appeals).
19 Office of Assistant Commissioner, Central GST, Division-II, Derabassi, Zirakpur, Distt. Mohali-140603 (Adjudicating Authority) 25-Jun-2025 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. 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.