Panacea Biotec Limited has filed appeals before the Hon’ble High Court of Punjab and Haryana, Chandigarh, against three out of four Awards received on March 19, 2026, from the Presiding Officer of the Industrial Tribunal, S.A.S. Nagar, Mohali. The company is also in the process of filing an appeal against the remaining fourth Award. The Awards, received on April 9, 2026, included setting aside the transfer of 23 workmen with full back wages, granting wage revision for workmen, and awarding reinstatement of workers with 50% back wages from the date of termination. These awards are applicable from 2014 onwards. Panacea Biotec Limited believes these Awards are challengeable and does not foresee any material adverse impact on its financial, operational, or other activities. The company intends to update on the filing of the appeal against the fourth Award in due course.
