GSK Pharma Slapped Rs 38.06 Cr Decree by Bombay Court in Legacy Property Dispute

The company clarified that the matter relates to office premises occupied more than 24 years ago by Burroughs Wellcome (India) Limited, prior to its merger with GlaxoSmithKline Pharmaceuticals Limited. GSK Pharma stated that it did not have prior records or logs of the case, which resulted in delayed confirmation of attribution and subsequent intimation to the exchanges.

In terms of impact, the company said it is currently assessing the decree and its implications on financial and operational activities. GSK Pharma added that it will take appropriate legal steps, including filing an appeal in due course, to safeguard its interests and mitigate any potential impact arising from the order.

The disclosure was formally addressed to BSE Limited and the National Stock Exchange of India Limited, and was signed by Ajay Nadkarni, Vice President – Administration, Real Estate & Company Secretary, on behalf of the company.

According to the regulatory filing submitted by GlaxoSmithKline Pharmaceuticals Limited, the decree arises from a long-pending legacy matter and does not involve any recent operational activity of the company.

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