Kopran Limited has formally announced the resignation of Mr. Adarsh Somani from his position as Non-Executive Non-Independent Director, effective March 17, 2026. The pharmaceutical company disclosed this development to the stock exchanges in compliance with regulatory requirements under SEBI (LODR) Regulations, 2015.

Resignation Details and Background

Mr. Adarsh Somani, holding Director Identification Number (DIN) 00192609, submitted his resignation letter on March 17, 2026. The resignation stems from a Memorandum of Family Settlement dated September 01, 2025, executed among the promoters of the company regarding shareholding and directorship arrangements across various listed and unlisted companies.

Committee Memberships Affected

Along with his directorship, Mr. Somani has also stepped down from his memberships in multiple board committees. His resignation impacts the following committees:

• Stakeholder Relationship Committee
• Risk Management Committee
• Corporate Affairs Committee

Regulatory Compliance and Documentation

Kopran Limited has fulfilled its disclosure obligations by informing both BSE Limited and the National Stock Exchange of India Limited about this board composition change. The company submitted the required information under Regulation 30 of SEBI (LODR) Regulations, 2015, along with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Company Secretary and Compliance Officer Sunil Sodhani (Membership No. FCS 3897) signed the regulatory filings, ensuring proper documentation of the directorship change. The resignation letter from Mr. Somani was attached as Annexure A to the official communication.

Director's Statement

In his resignation letter addressed to the Board of Directors, Mr. Somani expressed appreciation for the opportunity to serve the company. He acknowledged the support and cooperation extended by the Board, management, and colleagues during his tenure with Kopran Limited.

The resignation represents a strategic realignment of directorship roles among the promoter group, following the family settlement agreement executed in September 2025. This development reflects the ongoing corporate governance arrangements within the promoter family structure of the pharmaceutical company.

Kopran Limited has achieved significant regulatory milestones in its proposed merger process, receiving observation letters with no adverse observations from both BSE Limited and NSE Limited for its scheme of amalgamation with Kopran Laboratories Limited.

Dual Exchange Approval Timeline

The company received sequential approvals from both major stock exchanges within a day of each other. BSE Limited issued its observation letter on February 26, 2026, followed by NSE Limited providing its no objection letter on February 27, 2026.

NSE Observation Letter Requirements

NSE has outlined comprehensive compliance requirements based on SEBI's comments dated February 26, 2026. The exchange emphasized mandatory disclosure requirements including all ongoing adjudication and recovery proceedings, prosecution initiated, and enforcement actions against the company, its promoters, and directors before NCLT and shareholders.

Key NSE compliance requirements include:

• Complete disclosure of all pending legal actions and their potential impact
• Submission of audited financials for the last three years of all entities involved
• No Objection Certificates from lending banks and financial institutions
• Mandatory demat form for proposed equity shares under the scheme
• Compliance status report filing through NEAPS system

Shareholding Pattern Disclosure Mandates

Both exchanges have mandated specific disclosure requirements regarding shareholding patterns. The companies must prominently display pre-scheme and post-scheme shareholding percentages of promoter/promoter group and public shareholders on the first page of the notice convening the shareholders meeting.

Regulatory Framework and Next Steps

The observation letters are issued under Regulation 37 of SEBI LODR Regulations, 2015, with both carrying six-month validity periods. The scheme involves Kopran Laboratories Limited as the transferor company merging with Kopran Limited as the transferee company under Sections 230-232 of the Companies Act, 2013.

Both exchanges have reserved rights to withdraw their no adverse observation stance if any submitted information is found incomplete, incorrect, misleading, or false. The merger scheme remains subject to applicable regulatory and other statutory approvals, including NCLT approval.

Document Availability and Communication

Kopran Limited has made both observation letters available on its website at the dedicated amalgamation section. The company initially announced the Board of Directors' decision to approve the scheme on March 20, 2025, subject to receipt of applicable regulatory approvals. Company Secretary Sunil Sodhani confirmed the NSE approval through official communication on February 28, 2026.