Akums Drugs and Pharmaceuticals on Tuesday, December 16, informed stock exchanges that its wholly owned subsidiary, Maxcure Nutravedics Limited, has received an additional penalty order from the Office of the Deputy Commissioner of State Tax, Gujarat.
According to the regulatory disclosure, the tax authority has imposed an additional penalty of Rs 1,79,55,000 under Section 129(3) of the CGST Act, 2017, over and above the penalty already disclosed by the company on December 15, 2025.
The penalty relates to an alleged compliance lapse involving the incorrect entry of the shipping address in the invoice and e-way bill for transactions carried out in October 2025. The summary order under Section 129(3) was dated December 12, 2025, based on an earlier order of demand dated October 29, 2025, and was received by the company on December 15, 2025.
With this latest order, the total financial impact stands at Rs 3,59,10,000, which includes the earlier disclosed penalty of Rs 1,79,55,000. The company stated that the cumulative impact is not material to its financial, operational, or other activities.
The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the detailed information has been shared with both the National Stock Exchange of India and BSE.
