In accordance to regulation 30 read with Part A of Schedule III of Securities Exchange Board of India (Listing Obligations and Disclosure requirements) Regulations, 2015 (Listing Regulations), Orchid Pharma has informed that an order from office of ‘Assistant Commissioner Valluvarkottam Assessment Circle’ have been received with regards to the Audit conducted under Section 65 for the period 2017-18. The details required to be disclosed pursuant to Part A of Schedule III of Listing Regulations read with the SEBI Circular No. SEBI/HO/CFD/CFDPoD-1/P/CIR/2023/123 dated July 13, 2023 are enclosed as Annexure A. Based on assessment, they believed that the aforesaid Order stating the Demand, Interest and Penalty is not maintainable because the demand pertains to the Pre-CIRP/CIRP period and in accordance to the Clause 8 of the Resolution Plan approved by the Hon’ble National Company Law Tribunal, Chennai on June 27, 2019 the Company is not liable for any Pre-CIRP/CIRP Period Liability. Also, any liability ascertained for the stated period shall stand extinguished. Therefore the Company shall appeal to appropriate authority/tribunal for set aside of the aforesaid order. The order has no material impact on the financials, operations or other activities of the Company.
The above information is a part of company’s filings submitted to BSE.