Jubilant Biosys gets rectification order for ₹53.37 Cr tax adjustment

Jubilant Biosys Limited, a wholly-owned subsidiary of Jubilant Pharmova Ltd., received a rectification order on June 29, 2026, from the Assessing Officer in Noida for Assessment Year 2019-20. The order disallows a claim of brought forward losses amounting to ₹53.37 crores. The company believes the adjustment was made ignoring facts and legal provisions. Jubilant Pharmova is in the process of filing an appeal before the National Faceless Appeal Centre (NFAC) and expects the impugned adjustment to be deleted, anticipating no material adverse financial implication.