Panacea Biotec Limited has announced the receipt of three Demand Orders dated December 24, 2025, from the Office of the Assistant Commissioner of Income Tax, Central Circle 29, Delhi. These orders, issued under Section 156 of the Income Tax Act, 1961, impose a total penalty of ₹9.38 Crore due to alleged under-reporting of income. The demand includes ₹5.55 Crore for AY 2017-18, ₹3.11 Crore for AY 2020-21, and ₹0.72 Crore for AY 2021-22. The company received these orders on December 26, 2025. The alleged violation pertains to under-reporting of income as per assessment orders, leading to penalty imposition under Section 270A of the IT Act. Panacea Biotec states that, based on its assessment, the demand is not maintainable. The company is taking necessary steps, including filing an appeal with the appellate authority. The company does not foresee any significant impact on its financial, operational, or other activities as a result of this demand.