Tainwala Chemicals & Plastics (India) Limited has recommended the appointment of M/s. SDBA & Co., Chartered Accountants, as its new Statutory Auditors for a term of five years, effective from the conclusion of the ensuing Annual General Meeting (AGM). The Board of Directors approved the move on August 5, 2026, following a recommendation from the Audit Committee. This change marks the end of the tenure of the outgoing auditors, M/s. GMJ & Co., Chartered Accountants, whose term concludes at the same AGM. The appointment is subject to ratification by shareholders at the upcoming meeting, aligning with Regulation 30 of the SEBI Listing Regulations.

The transition in audit firms is part of routine corporate governance cycles, ensuring independent financial oversight. M/s. SDBA & Co. will hold office until the conclusion of the AGM expected in calendar year 2031. This five-year tenure covers the period from the 41st AGM through the 46th AGM. The company disclosed these changes in a filing submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on August 5, 2026, citing the completion of the previous auditors' tenure as the primary reason for the change.

Auditor Transition Details

The Board’s decision replaces M/s. GMJ & Co., which has served as the statutory auditor until now. The new firm, M/s. SDBA & Co., brings a different profile to the audit function. Below are the key details regarding the change in statutory auditors:

M/s. SDBA & Co. is a partnership firm established in 2016, with offices located in Mumbai and Udaipur. The firm’s appointment follows the standard regulatory process for changing statutory auditors, requiring shareholder approval at the AGM. Divya Saboo, the Company Secretary and Compliance Officer, signed the disclosure filed with the exchanges.

Concurrent Board Appointments

In addition to the auditor change, the Board approved several directorial appointments during the same meeting held on August 5, 2026. Alpesh Jagdishbhai Nayak was appointed as a Non-Executive Independent Director, effective September 3, 2026, for a five-year term. He brings expertise in the plastics industry, currently serving as Vice President at Anand International. His appointment strengthens the board’s industry-specific knowledge base.

The Board also approved the reappointment of Ramesh Tainwala as Chairman and Managing Director for a second consecutive five-year term, starting August 9, 2027. Notably, Mr. Tainwala will serve without remuneration. The Board also permitted his continuation beyond the age of 70, which he will attain on September 8, 2029. Other reappointments include Devendra Saligram Anand and Uday Ramniklal Mehta, both Non-Executive Independent Directors, for terms ending in August 2032.

Regulatory Compliance

All appointments and reappointments require final approval from the company’s members at the ensuing Annual General Meeting. The disclosures were made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company emphasized that the change in auditors is due to the natural expiration of the previous firm’s term, rather than any performance-related issues or disputes. This ensures continuity in financial reporting standards while introducing fresh oversight perspectives.

Rakesh Dungarmal Tainwala has increased his shareholding in Tainwala Chemicals & Plastics (India) Ltd to 6.26% through an inter-se transfer of shares. The acquisition involves 5,86,464 equity shares of ₹10 each, received as a gift from Rajkumar Tainwala, a relative. This transaction, executed on June 3, 2026, modifies the ownership structure within the promoter group, as Rakesh Dungarmal Tainwala will now be classified as a Promoter post-acquisition.

The disclosure was submitted to the stock exchanges in compliance with Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Prior to this acquisition, the acquirer did not hold any shares in the target company. The shares of Tainwala Chemicals & Plastics (India) Ltd are listed on BSE Limited and the National Stock Exchange of India Limited.

The transaction involves several Persons Acting in Concert (PACs), including Shobha Tainwala, Rajkumar Tainwala, Ramesh Tainwala, and Arushi Rajkumar Tainwala. Corporate entities such as Concept Reality and Securities Private Limited, Tainwala Holdings Private Limited, and Periwinkle Fashions Private Limited are also identified as PACs. The total diluted share capital of the company stands at 93,63,863 equity shares.

Shareholding Details

The following table outlines the shareholding details before and after the acquisition:

The acquisition was conducted via an inter-se transfer among immediate relatives. The filing confirms that the mode of acquisition was a gift, and no consideration was involved in the transfer of voting rights. The acquirer's PAN is provided as ACBPT1559L.