Suven Life Sciences Limited — Others, 21-03-2025: Action(s) initiated or orders passed

Suven Life Sciences Limited has announced a board meeting to discuss the demand notices received from the Income Tax Department for assessment years 2018-19 and 2019-20. The company faces demands of ₹1.76 crore and ₹1.93 crore, respectively, concerning liability for TDS deductions on foreign payments. However, Suven maintains that these payments are not subject to withholding tax. The company intends to appeal these demands and does not expect any material impact on its financials or operations. Investors might view this as a positive outlook, given the company’s confidence in handling the situation.