Integrated Filing-Governance



General information about company

Scrip Code 544578
NSE Symbol RUBICON
MSEI Symbol NOTLISTED
ISIN INE506V01022
Name of the entity RUBICON RESEARCH 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? Yes
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? Yes
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 Nothing to Report.
Risk management committee Yes
Market Capitalisation as per immediate previous Financial Year Any other
Is SCORE ID Available ? Yes
SCORE Registration ID comr07665
Reason For No SCORE ID
Type of Submission Original
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 No 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 Mrs. Pratibha Sudhir Pilgoankar 00401516 Executive Director Not Applicable MD 12-Jun-1954 No Active NA 01-Jun-2000 1 0 0 0
2 Mr. Parag Suganchand Sancheti 07686819 Executive Director Not Applicable CEO 16-Oct-1983 No Active NA 27-Jan-2017 1 0 1 0
3 Mr. Varun Talukdar 08312687 Non-Executive - Non Independent Director Not Applicable 18-May-1984 No Active NA 05-Sep-2023 1 0 0 0
4 Mr. Shantanu Rastogi 06732021 Non-Executive - Non Independent Director Not Applicable 26-Mar-1979 No Active NA 03-Apr-2019 3 0 2 0
5 Mr. Anand Agarwal 06481297 Non-Executive - Non Independent Director Not Applicable 12-May-1976 No Inactive NA 03-Jan-2025 03-Feb-2026 1 0 0 0 Others
6 Mr. Changavalli Venkat 02391159 Non-Executive - Independent Director Chairperson 25-Sep-1953 No Active NA 11-Jun-2024 11-Jun-2024 21.21 1 1 1 0
7 Mr. Kumarapuram Gopalakrishnan Ananthakrishnan 00019325 Non-Executive - Independent Director Not Applicable 10-Feb-1957 No Active NA 11-Jun-2024 11-Jun-2024 21.21 3 3 4 2
8 Mr. Milind Anil Patil 02546815 Non-Executive - Independent Director Not Applicable 01-Nov-1963 No Active NA 11-Jul-2024 11-Jul-2024 20.21 2 2 2 1
9 Ms. PRADNYA NANDKUMAR SARAVADE 08472973 Non-Executive - Independent Director Not Applicable 18-Jun-1964 No Active NA 03-Feb-2026 03-Feb-2026 1.29 1 1 2 0



Annexure 1

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



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 02546815 Milind Anil Patil Non-Executive - Independent Director Chairperson 24-Jul-2024
2 02391159 Changavalli Venkat Non-Executive - Independent Director Member 24-Jul-2024
3 06732021 Shantanu Rastogi Non-Executive - Non Independent Director Member 24-Jul-2024



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 00019325 Kumarapuram Gopalakrishnan Ananthakrishnan Non-Executive - Independent Director Chairperson 24-Jul-2024 Textual Information(1)
2 06732021 Shantanu Rastogi Non-Executive - Non Independent Director Member 24-Jul-2024
3 02391159 Changavalli Venkat Non-Executive - Independent Director Member 24-Jul-2024 Textual Information(2)

Text Block
Textual Information(1) Mr. Kumarapuram Gopalakrishnan Ananthakrishnan was re-designated from Member to Chairperson with effect from October 13, 2025.
Textual Information(2) Mr. Venkat Changavalli was re-designated from Chairperson to Member with effect from October 13, 2025.






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 00019325 Kumarapuram Gopalakrishnan Ananthakrishnan Non-Executive - Independent Director Chairperson 24-Jul-2024
2 06732021 Shantanu Rastogi Non-Executive - Non Independent Director Member 24-Jul-2024
3 07686819 Parag Suganchand Sancheti Executive Director Member 24-Jul-2024
4 08472973 PRADNYA NANDKUMAR SARAVADE Non-Executive - Independent Director Member 03-Feb-2026



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 07686819 Parag Suganchand Sancheti ED Chairperson 24-Jul-2024
2 02546815 Milind Anil Patil ID Member 24-Jul-2024
3 08312687 Varun Talukdar NED Member 24-Jul-2024



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 16-Dec-2025 Yes 8 8 3
2 03-Feb-2026 48 Yes 8 8 3
3 12-Mar-2026 36 Yes 8 6 3
4 31-Mar-2026 18 Yes 8 7 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 13-Nov-2025 Yes 3 3 2 0
2 Audit Committee 03-Feb-2026 81 Yes 3 3 2 0
3 Audit Committee 30-Mar-2026 54 Yes 3 2 2 0
4 Nomination and remuneration committee 29-Oct-2025 Yes 3 3 2 0
5 Nomination and remuneration committee 03-Feb-2026 96 Yes 3 3 2 0
6 Nomination and remuneration committee 30-Mar-2026 54 Yes 3 2 2 0
7 Risk Management Committee 31-Mar-2026 Yes 3 3 1 0
8 Stakeholders Relationship Committee 30-Mar-2026 Yes 4 3 2 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:



Annexure 1
Sr Subject Compliance status
1 Name of signatory Ms. Deepashree Tanksale
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.rubicon.co.in/know-us
1.2 Memorandum of Association and Articles of Association Yes https://www.rubicon.co.in/pdf/MOA%20%20AOA.pdf
1.3 Brief profile of board of directors including directorship and full time positions in body corporates Yes https://www.rubicon.co.in/pdf/Directors%20Brief%20Profile%20(1).pdf
2 Terms and conditions of appointment of independent directors Yes https://www.rubicon.co.in/pdf/Draft%20Letter%20of%20Appointment-Independent%20Director.pdf
3 Composition of various committees of board of directors Yes https://www.rubicon.co.in/pdf/Rubicon%20Committee%20Constitution.pdf
4 Code of conduct of board of directors and senior management personnel Yes https://www.rubicon.co.in/pdf/Code%20of%20Conduct_Directors%20and%20Sr%20Management.pdf
5 Details of establishment of vigil mechanism or whistle blower policy Yes https://www.rubicon.co.in/pdf/Whistle%20Blower%20and%20Vigil%20Mechanism%20Policy.pdf
6 Criteria of making payments to non-executive directors Yes https://www.rubicon.co.in/investors#
7 Policy on dealing with related party transactions Yes https://www.rubicon.co.in/pdf/Related-Party-Transactions-Policy.pdf
8 Policy for determining material subsidiaries Yes https://www.rubicon.co.in/pdf/Policy-on-Material-Subsidiaries.pdf
9 Details of familiarization programmes imparted to independent directors Yes https://www.rubicon.co.in/pdf/Policy%20for%20familiarisation%20programmes%20for%20independent%20directors.pdf
10 Contact information of the designated officials of the listed entity who are responsible for assisting and handling investor grievances Yes https://www.rubicon.co.in/investors#
11 Email address for grievance redressal and other relevant details Yes http://rubicon.co.in/investors#
12 Financial results Yes https://www.rubicon.co.in/reports-filings
13 Shareholding pattern Yes https://www.rubicon.co.in/disclosures/SHP_Rubicon_31122025.pdf
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 www.rubicon.co.in/pdf/corporate-announcement/Announcement%20under%20Regulation%2030%20(LODR)%20Analyst%20%20Investor%20Meet%20-%20Intimation.pdf
15.2 Audio or video recordings and transcripts of post earnings/quarterly calls Yes https://www.rubicon.co.in/recordings/10039745.mp3
16 New name and the old name of the listed entity NA
17 Advertisements as per regulation 47 (1) Yes https://www.rubicon.co.in/pdf/corporate-announcement/Rubicon_Newspaper%20Advertisement_05.02.2026.pdf
18 Credit rating or revision in credit rating obtained Yes https://www.rubicon.co.in/pdf/Credit%20Raitng%20-%202025.pdf
19 Separate audited financial statements of each subsidiary of the listed entity Yes https://www.rubicon.co.in/reports-filings
20 Secretarial compliance report NA
21 Materiality policy as per regulation 30 (4) Yes https://www.rubicon.co.in/pdf/Policy%20for%20Determining%20Materiality%20of%20Events%20or%20Information%20for%20Disclosure.pdf
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.rubicon.co.in/pdf/Contact%20details%20of%20Key%20Managerial%20Personnel%20for%20determining%20Materiality.pdf
23 Disclosures under regulation 30(8) Yes https://www.rubicon.co.in/investors#
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.rubicon.co.in/pdf/Dividend%20distribution%20Policy.pdf
26.1 Annual return as provided under section 92 of the Companies Act 2013 Yes https://www.rubicon.co.in/pdf/Annual%20Return%20FY%202024.pdf
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.rubicon.co.in/investors#
28 Compliance with regulation 46(3) with respect to accuracy of disclosures on the website and timely updation Yes https://www.rubicon.co.in/investors#
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) NA
26 Meeting of Risk Management Committee 21(3A) NA
27 Quorum of Risk Management Committee meeting 21(3B) NA
28 Gap between the meetings of the Risk Management Committee 21(3C) NA
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) Yes
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) NA
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) NA
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) Yes
48 Vacancies in respect Key Managerial Personnel 26A(1) & 26A(2), 26A(3) NA
Any other information to be provided - Add Notes



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 Ms. Deepashree Tanksale
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 Ms. Deepashree Tanksale
Designation of person Company Secretary and Compliance Officer
Place Thane
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 5
No. of investor complaints disposed off during the Quarter 5
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
1 Radiance MH Sunrise Eleven Private Limited 27-Mar-2026 0 6.900 6.900


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
1 Reserve Bank of India (Foreign Exchange Department) Compounding Order passed under Section 15 of FEMA, 1999 for regularization of contravention. The matter was disposed upon payment of compounding amount. 06-Jan-2026 Delay in filing Form ESOP beyond prescribed timeline (30 days) under FEMA 20(R) Regulations, 2017 relating to issuance of ESOPs to a non-resident employee 289000
2 Indian Customs (Air Cargo Complex, Sahar, Mumbai) Final assessment of Bill of Entry with levy of fine 02-Jan-2026 Procedural / assessment-related matter (no offence or penalty) 5000
3 Indian Customs (Air Cargo Complex, Sahar, Mumbai) Final assessment of Bill of Entry with levy of fine 03-Jan-2026 Procedural / assessment-related matter (no offence or penalty) 6000
4 Indian Customs (Air Cargo Complex, Sahar, Mumbai) Final assessment of Bill of Entry with levy of fine 18-Feb-2026 Procedural / assessment-related matter (no offence or penalty) 10000


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 Office of the assessment unit of Income Tax Department 26-Sep-2022 Status as on 31 December 2025: Submissions were filed and the matter is awaiting for disposal. No final adverse order has been passed as on 31-12-2025. Brief: Company received an assessment order dated September 26, 2022 (“AO Order”) from the office of the assessment unit of Income Tax Department under section143(3) read with section 144 B of the Income Tax Act, 1961 for an outstanding demand of ₹ 55.51 million imposed by assessing officer for the A.Y. 2020-21. The order was passed for inter alia disallowance u/s 14A and 37 of Income Tax Act, 1961 of the expense claimed on account of the difference between issue price and face value of shares issued pursuant to the ESOP Scheme of ₹ 79.41 million. The Company has filed an appeal dated October 21, 2022 with Hon’ble Commissioner of Income-Tax (Appeals). The matter is currently pending. All further information requested during the quarter was provided. As on 31-03-2026 , the matter is pending adjudication before the Commissioner of Income-tax (Appeals) / NFAC .
2 Office of the assessment unit of Income Tax Department 26-Jul-2023 Last disclosure: Matter is awaiting adjudication; no final order received as on 31-12-2025. Brief: Company received an assessment order dated July 26, 2023 (“AO Order”) from the office of the assessment unit of Income Tax Department under section143(3) read with section 144 B of the Income Tax Act, 1961 for CASS scrutiny on the return of income filed. The total additional income tax demand raised as per AO Order is ₹ 407.36 million. Company filed an appeal dated April 19, 2024 with Hon’ble Commissioner of Income-Tax (Appeals), in relation to the demand for additional income tax raised. The matter is currently pending. The Hon’ble CIT(A) / NFAC, vide order dated 28.03.2026 passed under section 250 of the Income-tax Act, 1961, allowed the appeal. The demand of Rs. 393.6 million arising on account of ICDS adjustment has been fully deleted, and the major issues has been adjudicated in favour of the Assessee. At present, only a minor issue remains, pertaining to interest on late payment of TDS amounting to Rs. 1,710.
3 Intimation order u/s 143(1) of the Income Tax Act, 1961 29-Dec-2023 Last Disclosure: Matter pending with the Income-tax Department as on 31-12-2025. No final rectification / disposal as on 31-12-2025. Brief: Company received an intimation order u/s 143(1) of the Income Tax Act, 1961 dated December 12, 2023 for an outstanding amount payable of ₹ 81.42 million. On December 29, 2023, our Company paid ₹ 75.24 million out of the outstanding amount payable determined by the intimation order dated December 12, 2023. Further, our Company intimated by way of a letter dated March 28, 2024 to Assessing Offer of the Income Tax Department about the foreign tax benefit claim (“Claim”) for A.Y. 2021-2022 and 2022-2023 on inter-corporate loan extended to wholly owned subsidiary in USA and had filed the belated form 67 for A.Y. 2021-2022 and 2022-2023 and claimed credit for the interest income on the said loan in income tax return filed for A.Y. 2023-24. The Company is awaiting a reply and the matter is currently pending. The Company will contesting the matter in appeal before the appropriate appellate authority against the draft assesssment order received during the quarter under Section 144C(1) of the Income-tax Act, 1961, with an addition of Rs. 206.8 million has been proposed on account of adjustment in the Arm’s Length Price (ALP) as suggested by the Transfer Pricing Office.
4 Edenbridge Pharmaceuticals LLC 13-Mar-2025 Last Disclosure: ngoing. The matter is currently pending. Brief: Plaintiff withdrew it's Motion for Preliminary Injunction on 26-09-2025. Brief: Edenbridge Pharmaceuticals LLC filed a complaint against the Company and Advagen Pharma Ltd (Material Subsidiary) before before the Court of Chancery for the State of Delaware, for: (i) breach of contract; (ii) misappropriation of trade secrets; and (iii) unjust enrichment. The Company and its Material Subsidiary has denied breach of the said confidentiality agreement.(Refer Prospectus for detailed proceedings) This matter was voluntarily dismissed by Edenbridge on 10-03-2026.
5 Pfizer INC. and Pfizer Ireland Pharmaceuticals 23-May-2024 Last Disclosure: Ongoing. The matter is currently pending. Brief:Pfizer INC. and Pfizer Ireland Pharmaceuticals filed a complaint against the Company before United States District Court for the District of Delaware, for patent infringement under patent laws of the United States of America arising from Company’s submission for abbreviated new drug application no. 219440 to the US FDA. (Refer Prospectus for detailed proceedings) Status as on March 31, 2026: Ongoing. The matter is currently pending.
6 Pierre Fabre Medicament SAS; Université De Bordeaux; Centre Hospitalier Universitaire De Bordeaux; and Pierre Fabre Pharmaceuticals, Inc., (“Plaintiffs”) 12-Jul-2024 Last Disclosure: Ongoing. The matter is currently pending. Brief:Plaintiffs filed a complaint against the Company before United States District Court for the District of Delware for patent infringement under patent laws of the United States of America arising from Plaintiff’s submission for abbreviated new drug application (ANDA) no. 219574 to the US FDA (Refer Prospectus for detailed proceedings) Status as on March 31, 2026: Closed. This matter was settled and case closed during the reporting quarter.
7 Metacel Pharmaceuticals LLC (Counterclaim filed by Rubicon Research Limited 08-Aug-2023 Last Disclosure:Rubicon Counterclaim: Ongoing. The matter is currently in the discovery phase. The Metacel Patent Infringement Action - Metacel Pharmaceuticals LLC initiated a Complaint against Rubicon Research [Private] Limited on 29 October 2021. Rubicon won its Summary Judgment Motion, with a Final Judgment entered on 31 August 2023, the Court finding that “Rubicon’s ANDA Product that is the subject of ANDA No. 214445 (the “Rubicon ANDA”) does not infringe any claim of the ’502 patent.” Rubicon successfully defended its Judgment before the U.S. Court of Appeals for the Federal Circuit and returned the action to U.S. District Court (see e.g. Dkt. Nos. 164 and 170.) The Rubicon Antitrust Counterclaim - Defendant, Rubicon Research [Private] Limited’s First Amended Answer, Affirmative Defenses and Counterclaim was filed on 8 August 2023, thereby initiating suit against Counterclaim Defendant, Metacel. The Counterclaim action would be stayed, by virtue of Metacel’s Appeal of the Trial Court’s Final Judgment of Non-Infringement, to the U.S. Court of Appeals for the Federal Circuit. Following entry of the Fed. Cir. Opinion affirming the Trial Court’s Decision on 23 April 2025, Rubicon sought and received an Order lifting the case stay (Dkt. No. 168) and has continued to pursue its antitrust counterclaim against Metacel through 31 December 2025. Status as on March 31, 2026: Ongoing. The matter is currently pending.
8 Office of Deputy Commissioner of Income Tax, Mumbai 05-Jan-2026 Not Applicable AdvaGen Pharma Ltd, USA, a material step down subsidiary company, received a demand notice under section 156 of the Income-Tax Act, 1961 from the office of Deputy Commissioner of Income Tax, Mumbai. The notice specifies the total demand payable including tax and interest of INR 4,18,84,613/- for assessment year 2021-22. This arises from the denial of a DTAA exemption on income of INR 10,03,57,800, following the tax authority’s conclusion that the 'Make Available' clause under the India-US DTAA was applicable. Assessment year 2021-22. On 19/01/26, an Appeal has been filed before the Income Tax Appellate Tribunal (ITAT), against the assessment order passed under Section 143(3) read with Section 144C(13) of the Income-tax Act, 1961. As on 31-03-2026, the matter is currently pending.