Nature of the Event

Transgene Biotek Limited submitted additional details to BSE Limited in compliance with observations regarding the resignation of its statutory auditors, M/s Vasavi & Co., Chartered Accountants, under Regulation 30 of SEBI (LODR) Regulations, 2015.

Key Dates

  • BSE observation email dated: 30th October 2026
  • Original corporate announcement submission date: 23rd September 2026 at 07:54 PM
  • Auditor resignation effective date: 22nd September 2026
  • Auditor appointment date: 30th December 2023
  • Original term expiration date: 30th September 2028
  • Annexure A declaration date: 30th October 2026

Parties Involved

  • Auditor: M/s Vasavi & Co., Chartered Accountants (FRN: 020965S)
  • Auditor Proprietor: CA Vasavi Gollapudi (MRN: 249259)
  • Company Representative: Dr K Koteswara Rao, Managing Director (DIN: 07167872)
  • Auditor Address: #8-3-903/4/4, Flat No.201, Krishna Enclave, Road No.5, Nagarjuna Nagar, Srinagar Colony, Hyderabad -500073 Telangana, India
  • Company Address: 69 & 70 IDA Bollaram, Sangareddy District 502 325, Telangana State

Detailed Reasons for Resignation

The Statutory Auditors resigned due to pre-occupation with other professional assignments, stating they are "not in a position to devote sufficient time to the affairs of the Company." The resignation was submitted with immediate effect.

Auditor Confirmation

The auditor provided confirmation through Annexure A that there are "no other material reasons other than those provided" for the resignation. Specifically, they confirmed:

  • No concerns requiring approach to Audit Committee/Board of Directors
  • No management-imposed limitations on obtaining audit evidence
  • No significant impact on financial statements due to lack of information
  • No prevalence of information issues in previous financial statements
  • No other relevant facts to the resignation

Audit History

The latest report submitted by the auditor prior to resignation was the "Limited Review Report on the Unaudited Financial Results of the Company for the quarter ended 30th June 2026," submitted to BSE Limited on 07th August 2026.

Financial Impact

Financial impact not quantified in the disclosure.

Capital Structure Impact

No impact on capital structure disclosed.

Governance Impact

Change in statutory auditors requires appointment of new auditors to complete the term until 30th September 2028.

Correspondence Details

The submission was made to The General Manager, Department of Corporate Services – CRD, BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai 400 001.