12-Jun-2026 19:06:11
ORCHID PHARMA : RECEIVES GST DEMAND ORDER OF ₹16.08 CR ⚖️
• 🏛️ Received an order from the Additional Commissioner of Central Tax, Chennai Outer Commissionerate • 💰 Demand of ₹16.08 crore (including previously sanctioned refund of ₹1.67 crore) along with applicable interest • 📅 Order pertains to a period prior to the commencement of the Corporate Insolvency Resolution Process (CIRP) • 🏢 Company stated liabilities, if any, related to the pre-acquisition period are covered under the approved Resolution Plan • ⚖️ Orchid Pharma believes the order is not sustainable in law and plans to pursue appropriate legal remedies • 📊 Management expects no material impact on the company's financials, operations or business activities 🟡 Impact: Neutral (Demand order is negative, but management believes it is covered under the approved resolution plan and expects no material financial impact.)
ORCHID PHARMA LIMITED