Tavexia Lifecare Limited board approved a proposal to acquire up to 60% equity share capital of Meyonex Pharmaceuticals Limited, an unlisted public company, during its meeting on September 7, 2026.

The board authorized directors Chirag Deepak Dedhia and Sachin Bhanubhai Manseta to lead preliminary evaluations, due diligence, and negotiations for the transaction. This move signals a strategic expansion into the pharmaceutical sector, targeting Meyonex, which has an authorized capital of ₹20 crore and paid-up capital of ₹13.99 crore.

Auditor and Board Changes

The company accepted the resignation of its statutory auditors, M/s SSRV & Associates, effective September 7, 2026. Consequently, the board approved the appointment of M/s DEVAM & Associates LLP as the new statutory auditors. This appointment is subject to shareholder approval at the upcoming Annual General Meeting (AGM) and covers a five-year term from FY27 to FY31.

Additionally, the board recommended the reappointment of Mrs. Khushboo Vasudev as an independent director for a second five-year term, starting December 31, 2026, pending shareholder approval.

Key Financials of Target Entity

Corporate Governance Updates

The board also approved the specific limit for material related-party transactions under Section 188 of the Companies Act, 2013, recommending it for shareholder approval. It took on record the secretarial audit report for FY25-26 from M/s Brajesh Gupta & Co. and approved the Board Report, Corporate Governance Report, and Management Discussion and Analysis for the financial year ended March 31, 2026.

The 46th AGM will be held with book closure dates fixed from September 24, 2026, to September 30, 2026. Mr. Brajesh Gupta was appointed as the scrutinizer for the e-voting process.

Tavexia Lifecare Limited (formerly Sattva Sukun Lifecare Limited) announced that M/s. SSRV and Associates has resigned as its statutory auditor with immediate effect on September 7, 2026.

The chartered accountancy firm cited preoccupation with other professional assignments and workload constraints as the reason for stepping down. The resignation was communicated to the Board of Directors via a letter dated September 7, 2026.

Auditor Tenure and Transition

SSRV and Associates was originally appointed as the statutory auditor on September 30, 2023. The Board of Directors had approved their reappointment for a second term of five consecutive years in August 2023, covering the period until the conclusion of the 48th Annual General Meeting.

The firm submitted its latest limited review report for the quarter ended June 30, 2026, on August 4, 2026. This filing occurred approximately one month prior to the resignation notification.

Regulatory Disclosures

In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Tavexia Lifecare filed the intimation with the Bombay Stock Exchange. The disclosure aligns with Part A of Schedule III of the regulations and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026.

The auditor confirmed there were no reportable concerns requiring communication to the Audit Committee or the Board prior to resignation. Consequently, no such communication was made during the tenure.

SSRV and Associates issued a No Objection Certificate (NOC) allowing the company to appoint a new eligible auditor to fill the casual vacancy. The company is required to complete applicable statutory filings with the Registrar of Companies and stock exchanges.