Panacea Biotec Receives Industrial Tribunal Awards Regarding Workmen
Panacea Biotec Limited confirmed receiving four Awards from the Presiding Officer (in the rank of Additional District Judge) of the Industrial Tribunal, S.A.S. Nagar, Mohali. The Awards, received on 9 April 2026, pertain to matters involving workmen and have implications spanning from 2014 onwards.The Tribunal's decisions, as reported, included several key stipulations concerning the workmen. Specifically, the Awards mandate:
- Setting aside the transfer of 23 workmen and granting relief of full back wages dating from the transfer period.
- Awarding a reasonable wage revision for the workmen.
- Awarding reinstatement of the workers, excluding those who have settled their disputes, along with 50% back wages from the date of termination.
The Company provided details regarding the communication in a formal statement, summarizing the material contents of the Awards.
A review of the details shows that while the initial report mentioned the Awards were dated March 19, 2026, the actual receipt date of the communication was reported as 9 April 2026.
The company stated that based on its legal position, the aforesaid Awards are challengeable, and Panacea Biotec Limited does not anticipate any material adverse impact on its financial, operational, or other activities stemming from these Awards.
The company announced its intended course of action, noting that it is in the process of taking appropriate legal action, including filing appeals before the Hon'ble High Court of Punjab and Haryana against the mentioned orders.
The details of the communication are summarized below:
| Particulars | Details |
|---|---|
| Name of the Listed Entity | Panacea Biotec Limited |
| Type of communication received | Four Awards from the Presiding Officer (in the rank of Additional District Judge) of Industrial Tribunal, S.A.S Nagar, Mohali |
| Date of receipt of communication | 9 April 2026 |
| Authority from whom communication received | Presiding Officer (in the rank of Additional District Judge) of Industrial Tribunal, S.A.S Nagar, Mohali |
| Period for which communication would be applicable | From 2014 onwards |
| Expected financial implications | Company believes Awards are challengeable and foresees no material adverse impact on financial, operational, or other activities. |
| Action taken by listed company | In process of taking appropriate legal action including filing appeals before the Hon'ble High Court of Punjab and Haryana. |
PANACEABIO Stock Price Movement
Today, Panacea Biotec Limited shares edged higher to close at ₹327.15, gaining 1.29%. The stock saw an uptick throughout the session, concluding with a total volume traded of 88,430 shares.Source:
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