The SPARC CENVAT refund litigation has been decided in favour of Sun Pharma Advanced Research Company Ltd, the company said in a BSE filing dated October 4, 2026. The Customs, Excise & Service Tax Appellate Tribunal (CESTAT), Mumbai, upheld an earlier order confirming the company's entitlement to a refund of accumulated CENVAT credit involving Rs 2,751 lakh, or Rs 27.51 crore, along with consequential interest where applicable.

The Tribunal dismissed the Revenue's appeal, leaving the favourable Order-in-Appeal dated April 27, 2018, intact. The disclosure reports the outcome of the proceedings and confirms the company's refund entitlement; it does not state that the refund has been received.

The distinction between entitlement and receipt is relevant to reading the disclosed outcome. SPARC reported a favourable tribunal decision, while the filing supplied no payment date or separate amount for consequential interest.

Tribunal upholds earlier favourable order

The latest development relates to litigation that SPARC had previously disclosed to exchanges on August 14, 2023. That earlier submission listed pending litigation and disputes under the SEBI listing disclosure framework. The CESTAT matter appeared at serial number 3 of that submission.

In its October 4 filing, the company identified three elements of the tribunal outcome:

  • The April 27, 2018 Order-in-Appeal passed in the company's favour was upheld.
  • Its entitlement to the accumulated CENVAT credit refund was confirmed, with consequential interest where applicable.
  • The Revenue's appeal was dismissed, deciding the litigation in the company's favour.

The company retained the qualification on interest in its disclosure. It did not provide an interest rate, calculation period or quantified interest component.

Exchange disclosure details

SPARC submitted the development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication was addressed to both BSE and the National Stock Exchange, identifying the company by BSE scrip code 532872 and NSE symbol SPARC.

The annexure marked disclosures concerning litigation against key management personnel or promoters, and details of any settlement, as not applicable. Company Secretary and Compliance Officer Kajal Damania signed the filing.