Asahi songwon colors Limited has informed stock exchanges about the immediate resignation of its Chief Financial Officer, Mr. Pratik Shah, effective April 09, 2026. The company submitted the regulatory filing under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resignation Details

Mr. Pratik Shah tendered his resignation from the position of Chief Financial Officer with immediate effect due to personal reasons. The company has explicitly confirmed that there are no other material reasons for his resignation beyond those mentioned in his resignation letter.

Regulatory Compliance

The resignation will be placed before the Board of Directors at the company's next board meeting for formal noting. Asahi Songwon Colors has provided all required disclosures as mandated under Regulation 30 of the Listing Regulations, along with the SEBI Master Circular dated November 11, 2024.

Company Communication

The formal intimation was signed by Joseph Saji Varghese, Company Secretary & Compliance Officer, and submitted to both BSE Limited and National Stock Exchange of India Limited. In his resignation letter, Mr. Shah expressed gratitude to the Board of Directors and Senior Management for their support during his tenure with the company.

The company maintains its registered office at "Asahi House", 20, Times Corporate Park, Thaltej – Shilaj Road, Thaltej, Ahmedabad – 380059, Gujarat, and continues its operations in the colors and chemicals sector.

Asahi Songwon Colors Limited has officially communicated to stock exchanges that it does not fall under the 'Large Corporate' category as defined by SEBI's framework for fund raising through debt securities. The company submitted its non-applicability disclosure to both BSE and NSE on April 9, 2026, confirming it does not meet the prescribed criteria under SEBI circular SEBI/HO/DDHS/CIR/P/2018/144.

Financial Position and Borrowing Status

The company's disclosure reveals key financial parameters that determine its classification under the SEBI framework. As of March 31, 2026, Asahi Songwon Colors Limited reported outstanding borrowings significantly below the large corporate threshold.

Regulatory Framework and Compliance

The SEBI circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018, establishes specific criteria for identifying large corporates and mandates certain borrowing requirements through debt securities. Companies classified as large corporates must raise a specified portion of their incremental borrowings through debt securities rather than bank loans.

The framework includes a penalty mechanism where entities face a fine of 0.2% of any shortfall in mandatory borrowing through debt securities, levied at the end of each two-year block period starting from FY 2022. Companies must designate a stock exchange for fine payment in case of non-compliance.

Corporate Governance and Disclosure

The disclosure was formally signed by Joseph Saji Varghese, Company Secretary and Compliance Officer, and Pratik Shah, Chief Financial Officer, demonstrating proper corporate governance protocols. The communication was addressed to both major Indian stock exchanges where the company's shares are listed.

Company Profile

Asahi Songwon Colors Limited operates from its registered office at "Asahi House", Thaltej, Ahmedabad, Gujarat. The company maintains ISO 14001:2015 certification, indicating its commitment to environmental management standards. With CIN L24222GJ1990PLC014789, the company has been incorporated since 1990 and continues to maintain transparency in regulatory compliance and financial disclosures.