The company said the proceedings were initiated against Sreedharan under the Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985 for a procedural lapse for a single export transaction of identified product for which the officer is under judicial detention.
The company said the investigation was initiated on Friday and judicial custody has been granted by the CMM court till July 17, 2026.
Supriya Life said the proceedings are not expected to have any material impact on its operations, financial position or governance. It said it is evaluating the implications of the proceedings and is obtaining appropriate legal advice.
Supriya Life said the matter is before the competent court and the company will take an appropriate action after examining all applicable legal provisions and implications.
The company said it remains committed to maintaining its highest standards of corporate governance and regulatory compliance. It is closely monitoring the developments in the case and any further material developments in the matter will be disclosed to the stock exchanges in accordance with applicable laws and regulations, it added.
Shares of Supriya Lifescience ended the previous session 1.5% lower at ₹980 apiece. The stock has gained 2.9% in the past month and 32.3% this year, so far.
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