Orchid Pharma Limited informed that an order from office of `ASSISTANT COMMISSIONER VALLUVARKOTTAM CENTRAL-III CHENNAI CENTRAL' has been received with respect to the GST Audit conducted under Section 65 for the period 2018-19. Name of the authority: Assistant Commissioner (ST) Valluvarkottam, CENTRAL-III Assessment Circle, Chennai Central. Nature and details of the action(s) taken, initiated or order(s) passed: The Authority has passed an order ascertaining the total revenue abstract of INR 2,65,96,028.00 including total Tax liability of INR 1,32,27,092.00 and total Interest component of INR 1,20,46,229.00 with total penalty of INR 13,22,707.00 for the period 2018-19 under Tamil Nadu Goods and Services Tax Act, 2017. Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority: April 30, 2024. Details of the violation(s)/contravention(s) committed or alleged to be committed: The Authority has ascertained the demand considering the various factors viz. Reversal of ITC and Filing registration and stamps expenses related to the fee paid for USFDA. Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible: Based on assessment, the company believes 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 appellate 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.