Zorvia Flags SEBI Disclosure Concerns in Court, in Ongoing Defamation Proceedings Against Emcure and Zuventus

Zorvia Healthcare Limited, a recently incorporated pharmaceutical company, on Friday opposed an adjournment sought by Emcure Pharmaceuticals Limited, its subsidiary Zuventus Healthcare Limited, and four of their senior officers in an ongoing criminal defamation case before the Judicial Magistrate First Class (JMFC), Thane.

During the hearing, Zorvia’s lawyers also raised concerns regarding alleged non-disclosure of financial losses by Emcure under applicable SEBI regulations, even as the company has claimed significant losses in multiple legal proceedings against Zorvia.

The dispute originates from a circular issued by Zuventus Healthcare Limited on January 16, 2026, addressed to stockists, distributors, and pharmaceutical trade associations, which allegedly accused Zorvia of ‘market sabotage’ and misuse of Zuventus’ goodwill. These allegations were subsequently reiterated in a media report dated January 20, 2026, which echoed similar claims.

Zorvia has categorically denied the allegations, stating that it never issued any communication regarding Zuventus’ operations. The company maintains that the circular was deliberately targeted at key trade stakeholders and intended to damage its reputation and disrupt its entry into the market.

Following this, Zorvia filed a criminal defamation complaint under Sections 356(1) and 356(2) of the Bharatiya Nyaya Sanhita, 2023, before the JMFC, Thane. The Court issued notices to the accused, and the accused entered appearance on February 17, 2026.

At the latest hearing on April 17, 2026, the accused sought an adjournment citing a writ petition filed before the Bombay High Court challenging the issuance of notice in the matter.

Zorvia’s lawyers opposed the adjournment, submitting that:

• The accused had entered appearance over 60 days ago and had taken no substantive steps in the matter;
• The ground cited in the writ petition relating to the alleged non-recording of the complainant’s verification is factually incorrect, as the verification had already been duly recorded before an officer of the court;
• While the writ petition was stated to have been filed on April 10, 2026, it was only registered on the date of the hearing, with no notice issued and no stay granted by the Bombay High Court.

Zorvia’s lawyers further submitted that despite claims by Emcure and Zuventus in multiple proceedings regarding significant financial losses allegedly caused by Zorvia, no corresponding disclosures have been made by Emcure under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Zorvia stated that this raises questions regarding the consistency and credibility of such claims.

After hearing both sides, the Hon’ble Court took note of the formal adjournment application filed by the accused and granted them a final opportunity of 10 days to file their reply. The matter has been adjourned to April 29, 2026.