Cian Healthcare Limited has announced significant leadership changes following the approval of its resolution plan by the National Company Law Tribunal (NCLT). The pharmaceutical company informed BSE Limited about the deemed resignation of key directors and managerial personnel on December 24, 2025, as a direct consequence of the NCLT order dated December 18, 2025.

NCLT Approval and Committee Formation

The Resolution Plan Implementation Committee was constituted with effect from December 18, 2025, when the Honourable National Company Law Tribunal Bench-VI, Mumbai approved the company's resolution plan. The committee will remain operational until the Resolution Plan Closure Date as defined under the provisions of the approved resolution plan.

Committee Composition and Leadership

The Implementation Committee comprises three key members representing different stakeholder groups:

Mr. Roshen Chordiya, who previously served as the Resolution Professional of Cian Healthcare Limited, chairs the committee. He holds IBBI Registration No. IBBI/IPA-001/IP-P02840/2023-2024/14347.

Deemed Resignation of Key Personnel

The Implementation Committee, in its meeting held on December 24, 2025, noted the vacancy at the office due to deemed resignation of the following erstwhile directors and key managerial personnel:

All resignations are deemed effective from December 18, 2025, pursuant to the NCLT order approving the resolution plan. The company clarified that the requirement for resignation letters is not applicable as these vacations of office result directly from the NCLT order.

Independent Director Confirmation

In a subsequent disclosure dated December 27, 2025, the company provided additional confirmation regarding the resignation of Mr. Sunil Kumar, the erstwhile Independent Non-Executive Director. Through a letter dated December 24, 2025, Mr. Sunil Kumar confirmed that there are no other material reasons for his vacation of office (deemed resignation) except pursuant to the NCLT Order and the resolution plan approved therein.

Official Disclosure and Documentation

The formal disclosure was submitted to BSE Limited with reference number CIAN/BSE/2025-26/02, providing comprehensive details about each personnel's deemed resignation. The Implementation Committee meeting (CIAN/RPIC/2025-26/01) commenced at 05:30 P.M. (IST) and concluded at 06:07 P.M. (IST) on December 24, 2025. A follow-up disclosure with reference number CIAN/BSE/2025-26/03 was submitted on December 27, 2025, containing the confirmation from Mr. Sunil Kumar.

Regulatory Compliance and References

The disclosure was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company referenced multiple regulatory circulars including SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/CIR/P/2024/185 dated December 31, 2024.

Corporate Details and Operations

Cian Healthcare Limited operates as an ISO 9001:2015 and WHO GMP certified pharmaceutical company. The company's registered office is located at Office No. 301, 3rd Floor, Konark Icon, Mundhwa-Kharadi Road, Kirtane Baugh, Magarpatta, Hadapsar, Pune-411028. Its manufacturing facility is situated at Kh. No: 248, Village Sisor, Bhagwanpur, Roorkee, Haridwar, Pin-247661, Uttarakhand.

The company continues under the Corporate Insolvency Resolution Process with the newly constituted Implementation Committee overseeing the transition and ensuring compliance with the approved resolution plan terms.

Cian Healthcare Limited successfully conducted its 22nd Annual General Meeting on December 17, 2025, where shareholders unanimously approved key corporate governance matters including the adoption of FY25 financial statements and important auditor appointments. The meeting was held through video conferencing under the chairmanship of Resolution Professional Roshen Chordiya, reflecting the company's current status under Corporate Insolvency Resolution Process (CIRP).

AGM Proceedings and Attendance

The virtual meeting commenced at 10:00 AM IST and concluded at 10:40 AM IST, including a 15-minute e-voting period. The company had 1,723 members as of the December 10, 2025 cut-off date. Key attendees included Resolution Professional Roshen Chordiya as Chairman, suspended Managing Director Suraj Shriniwas Zanwar, and key managerial personnel including Compliance Officer Bhushan Ramesh Kulkarni and Chief Financial Officer Kalyani Vijay Chordia.

Key Resolutions Approved

Shareholders approved three ordinary resolutions with unanimous support, demonstrating strong confidence in the proposed corporate actions:

The first resolution involved adopting audited standalone and consolidated financial statements for the financial year ended March 31, 2025, including Balance Sheet, Statement of Profit & Loss, Cash Flow Statement, and Statement of changes in Equity, along with the Resolution Professional's report and Auditors' report.

Auditor Appointments and Professional Services

A significant development was the appointment of KNG C and Associate LLP as secretarial auditors for a five-year term. The firm brings over five years of professional experience specializing in secretarial audit, due diligence, assurance audit, corporate compliance management, representation services, and transaction advisory services.

Additionally, shareholders ratified the remuneration of Suraj Lahoti Associates (FRN: 101489) as Cost Auditor for the financial year 2025-2026, ensuring continuity in the company's audit framework.

Voting Process and Results

The company provided both remote e-voting and e-voting during the AGM to ensure maximum shareholder participation. The remote e-voting period was conducted from December 13, 2025 (9:00 AM) to December 16, 2025 (5:00 PM), with additional voting facility available during the meeting.

Nikhil Umesh Karwa, Partner at KNG C and Associate LLP, served as the scrutinizer for the voting process. All three resolutions received 647,784 votes in favor with zero votes against, representing 100% approval from participating shareholders. The voting results demonstrated strong shareholder confidence despite the company's CIRP status.

Corporate Governance Under CIRP

The meeting highlighted the company's commitment to maintaining corporate governance standards while under Corporate Insolvency Resolution Process. Resolution Professional Roshen Chordiya provided insights into the company's background, CIRP status, and financial performance for 2024-25, along with operational highlights and future outlook.

The successful conduct of the AGM with unanimous approval of all resolutions indicates stakeholder confidence in the resolution process and the company's governance framework during this transitional period.