Suven Life Sciences Limited — Others, 26-02-2025: Action(s) initiated or orders passed

Suven Life Sciences has announced a board meeting to discuss a demand notice from the Income Tax Department concerning a payment of ₹22.32 crore related to the assessment year 2020-21. The authorities believe that foreign remittances made in that year should have incurred TDS under Section 195 of the Income Tax Act. Suven contests this view and plans to appeal the decision, indicating they do not expect a material impact on their financials or operations. This situation could evoke a cautious sentiment among investors, though the company's outlook remains stable due to their confidence in resolving the matter.