Key Decisions and Approvals
1. Resignation of Statutory Auditor
- The Board received and accepted the resignation of M/s SSRV & Associates, Chartered Accountants (Firm Registration No. 135901W) as Statutory Auditors, effective September 07, 2026.
- The resignation was received via letter dated September 07, 2026.
- The Board placed on record its appreciation for services rendered and noted that necessary documents will be obtained as required under the Companies Act, 2013.
2. Appointment of New Statutory Auditor
- The Board approved the appointment of M/s DEVAM & Associates LLP, Chartered Accountants (Firm Registration No. 139355W/W100925) as new Statutory Auditors, subject to shareholder approval at the upcoming General Meeting.
- The proposed auditor has furnished requisite consent and eligibility certificate confirming compliance with Companies Act, 2013.
- If approved, the appointment will be for five consecutive years from the conclusion of the 46th General Meeting until the conclusion of the 51st Annual General Meeting.
3. Re-Appointment of Independent Director
- The Board approved the re-appointment of Mrs. Khushboo Vasudev (DIN: 08415000) as Independent Director for a second term of five years from December 31, 2026, subject to shareholder approval.
4. Proposed Acquisition of Meyonex Pharmaceuticals Limited
- The Board considered and authorized evaluation of acquiring up to 60% equity share capital of Meyonex Pharmaceuticals Limited (CIN: U74120MH2015PLC261024), an unlisted public company.
- Authorized Mr. Chirag Deepak Dedhia and Mr. Sachin Bhanubhai Manseta, Directors, to jointly/severally:
- Initiate preliminary discussions with existing shareholders/promoters/management
- Negotiate commercial, financial, and legal terms including valuation, purchase consideration, and transaction structure
- Obtain and review financial, legal, technical, regulatory, and operational information
- Appoint professional advisors for valuation and due diligence
- Coordinate financial, tax, legal, secretarial, regulatory, technical, pharmaceutical, manufacturing, quality, GMP/cGMP, environmental, commercial, operational, and intellectual property due diligence
- Execute non-binding documents such as confidentiality agreements, NDAs, letters of intent, and term sheets
- Liaise with the target company and relevant parties
- Target company details:
- Authorized Capital: ₹20,00,00,000
- Paid-up Capital: ₹13,99,81,200
- Registered Address: Plot No. C-13 MIDC Tarapur Palghar, Thane, Maharashtra, India, 401506
- Industry: Pharmaceuticals
5. Other Board Approvals
- Approved proposal for specific limit for Material Related Party Transactions under Section 188 of Companies Act, 2013, to be recommended for shareholder approval
- Took on record Secretarial Auditor Report from M/s. Brajesh Gupta & Co., Practicing Company Secretaries for FY 2025-2026
- Took note of status of Statutory Registers maintained under Companies Act, 2013
- Took on record performance evaluation of Auditors done by Audit Committee
- Approved and adopted Board Report, Corporate Governance Report, Management Discussion and Analysis Report and other reports/certificates for FY ended March 31, 2026
- Approved and fixed day, date, time, and calendar of events for 46th Annual General Meeting
- Fixed Book Closure for 46th AGM from September 24, 2026 to September 30, 2026
- Appointed Mr. Brajesh Gupta, Practicing Company Secretary (proprietor of M/s. Brajesh Gupta & Co) as Scrutinizer for e-voting process
- Authorized Managing Director or Company Secretary to issue Notice of 46th AGM and conduct the meeting
Meeting Details
- Date: September 07, 2026
- Time: Commenced at 5:45 PM, concluded at 7:13 PM
- Location: Registered office at Plot No. 2B/1, Ground Floor, Kandivali Cooperative Industrial Estate Ltd., Hindustan Naka, Kandivali (West), Mumbai 400067