Asian paints Limited has successfully completed the amalgamation with its wholly owned subsidiary Asian Paints (Polymers) Private Limited, marking a significant milestone in the company's corporate restructuring process. The amalgamation became effective on March 31st, 2026, following the filing of requisite documents with regulatory authorities.

Amalgamation Details and Timeline

The company informed stock exchanges that both the transferor company (Asian Paints Polymers Private Limited) and the transferee company (Asian Paints Limited) filed the certified true copy of the National Company Law Tribunal's sanctioning order with the Registrar of Companies, Mumbai, Maharashtra on March 31st, 2026. This filing marked the completion of the legal process that began with the NCLT's earlier approval of the scheme.

Regulatory Compliance and Documentation

The amalgamation follows proper regulatory procedures under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Asian Paints had previously communicated the NCLT's sanction of the Scheme of Amalgamation through their letter dated March 10th, 2026. The company's CFO and Company Secretary, R J Jeyamurugan, signed the intimation letter digitally, ensuring compliance with modern documentation standards.

Corporate Structure Impact

With the completion of this amalgamation, Asian Paints (Polymers) Private Limited stands dissolved without winding up, as per the approved scheme. This corporate restructuring consolidates the operations of the wholly owned subsidiary into the parent company, potentially streamlining operations and administrative processes. The dissolution occurred automatically upon filing the NCLT order with the Registrar of Companies.

Stakeholder Communication

Asian Paints maintained transparent communication throughout the process, keeping both BSE Limited and National Stock Exchange of India Limited informed about the developments. The company's systematic approach to regulatory compliance demonstrates its commitment to maintaining proper corporate governance standards during significant structural changes.

Asian Paints Limited announced a significant change in its statutory auditing arrangements, with the Board of Directors approving the appointment of S R B C & Co. LLP as the company's new statutory auditors for the next five-year term.

Board Decision and Timeline

During the board meeting held on March 26, 2026, directors approved the appointment based on the Audit Committee's recommendation. The new auditing arrangement will commence from the conclusion of the 80th Annual General Meeting for financial year 2025-26 and continue until the conclusion of the 85th AGM for financial year 2030-31.

Auditor Transition Details

The appointment represents a transition from the current statutory auditors, Deloitte Haskins & Sells LLP, who will complete their second consecutive five-year term upon the conclusion of the upcoming 80th AGM. This change aligns with regulatory requirements and corporate governance practices.

New Auditor Profile

S R B C & Co. LLP brings substantial experience to the role as Asian Paints' statutory auditor. The firm is a limited liability partnership incorporated in India and registered with the Institute of Chartered Accountants of India. Established in 2002, SRBC maintains its registered office in Kolkata with offices across key cities in India.

The firm holds a valid peer review certificate no. 023917, which remains valid until February 28, 2029. As part of the S. R. Batliboi & Associates network, SRBC specializes in providing comprehensive financial services including:

• Audit and assurance services
• Tax consultancy
• Financial accounting advisory services

The network firms serve diverse market segments, auditing both listed and private companies across various industries.

Regulatory Compliance

The appointment follows all applicable provisions of the Companies Act, 2013, along with rules issued thereunder and SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Asian Paints has received the necessary documentation from SRBC, including consent for appointment, certificate of eligibility, and confirmation of non-disqualification under Sections 139, 141 and other applicable provisions of the Companies Act.

The company has fulfilled its disclosure obligations under Regulation 30 of the Listing Regulations, providing comprehensive information about the auditor change to stock exchanges. The appointment requires final approval from shareholders at the upcoming 80th Annual General Meeting before taking effect.