Sun Pharma to set up Rs. 3,000 crore greenfield formulations facility in MP

The Board of Directors of Sun Pharma Laboratories Limited, wholly-owned subsidiary of Sun Pharmaceutical Industries Limited, has approved the proposal for an investment of INR 3,000 crores for setting up a greenfield formulations manufacturing facility in Madhya Pradesh.

Venus Remedies update on resolution of income tax matters

Venus Remedies Limited has concluded all pending Income Tax matters relating to earlier assessment years. Following favorable decisions at the appellate level and subsequent orders issued by the concerned authorities, all outstanding tax demands have been resolved in full.

As a result, the contingent liability related to Income Tax, which was previously reported at Rs. 33.44 crores, now stands at nil. Amounts that were earlier deposited under protest have also been refunded to the Company along with the applicable interest. This brings complete clarity and closure to all outstanding Income Tax matters and further strengthens the Company's financial position.