Corporate Updates: Aether Industries, INOX & Eli Lilly

Aether Industries Clears GST Dispute

Aether Industries Limited successfully resolved a Goods and Services Tax dispute after authorities dropped a demand notice worth ₹4.26 crore on October 1, 2026. The original notice on April 24, 2026, concerned Input Tax Credit claims related to company expenses for the fiscal years 2020-21 and 2021-22.

• Tax demand dropped: ₹4.26 crore
• Dispute period: FY20-21 and FY21-22
• Resolution date: October 1, 2026

The Additional Commissioner of CGST and Central Excise Commissionerate in Surat determined the credits were legitimate. The company confirmed that the closure leaves no financial impact or liability.

INOX Group and Eli Lilly Expansion Moves

Brothers Pavan Jain and Vivek Jain are preparing separate Initial Public Offerings for their respective INOX Group entities. Both INOX Air Products and INOX Clean Energy filed draft red herring prospectuses aiming to mobilize approximately ₹10,000 crore each.

• INOX entities: INOX Air Products and INOX Clean Energy
• Target mobilization per IPO: ₹10,000 crore
• Key leaders: Pavan Jain and Vivek Jain

Simultaneously, Eli Lilly introduced Mounjaro in India for Type 2 diabetes and obesity treatment following Central Drugs Standard Control Organization approval. The drug acts as a dual GIP and GLP-1 receptor agonist administered via once-weekly injections.

• Key drug launched: Mounjaro
• Target conditions: Type 2 diabetes and obesity
• Estimated monthly treatment cost: ₹14,000 to ₹17,500

Lilly India President Winselow Tucker noted the public health challenge regarding the 101 million people living with diabetes and nearly 100 million adults affected by obesity in India. Clinical trials such as SURMOUNT-1 demonstrated significant weight loss outcomes up to 21.8 kg on the highest dose.