Date: September 28, 2026

KMP / Board / Auditor Changes

S.R. Batliboi & Co. LLP, Chartered Accountants (ICAI Firm Registration No: 301003E/E300005), resigned as Statutory Auditors of Bharat Serums and Vaccines Limited (BSV), a material wholly owned subsidiary of Mankind Pharma Limited. The resignation was tendered via letter dated September 28, 2026, and is effective immediately from the same date. The reason for resignation is the initiation of voluntary liquidation proceedings of BSV under Section 59 of the Insolvency and Bankruptcy Code, 2016, read with the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017. The auditors confirmed there are no other material reasons for their resignation.

Background and Context

S.R. Batliboi & Co. LLP was appointed as statutory auditors of BSV at the 32nd Annual General Meeting held on September 22, 2025, for a period of 4 years (until the conclusion of the 36th AGM). The resignation follows emails dated September 11 and September 15, 2026, from the Liquidator, Mr. Dilipkumar Natvarlal Jagad, stating that BSV's shareholders resolved on September 7, 2026, to liquidate the company voluntarily. The Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017, prohibit a liquidator from engaging any professional who served as an auditor of the company during the five years preceding the liquidation commencement date.

Audit Status

The auditors had completed the audit of BSV's financial statements for the year ended March 31, 2026, with an audit report dated May 12, 2026. They had not commenced the audit for the year ending March 31, 2027.

Additional Details from Annexures

  • Auditor Address: 67, Institutional Area, Sector 44, Gurugram, Haryana 122003, India
  • Auditor Contact: Tel: +91124 681 6000; Email: Rajeev.Sawhney@srb.in
  • The auditors stated they would file Form ADT-3 as required by the Companies Act, 2013
  • No concerns were raised with the Audit Committee/Board of Directors prior to resignation
  • No issues regarding inability to obtain sufficient appropriate audit evidence were reported