Asston pharmaceuticals Limited has formally appointed M/s Panchal S K and Associates as its new statutory auditors, effective February 27, 2026. The pharmaceutical company made this announcement through an official disclosure to BSE Limited under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Board Approval and Regulatory Compliance

The Board of Directors approved the appointment through a resolution passed by circulation, acting on the recommendation of the Audit Committee. The decision was made in accordance with Section 175 of the Companies Act, 2013, and related rules. The appointment is subject to approval from shareholders at the company's upcoming general meeting.

About the New Auditors

M/s Panchal S K and Associates brings substantial credentials to the role. The firm was established in 2017 and holds ICAI registration number 145989W along with Peer Review Certificate number 018089. Led by founder partner Swati Panchal, who has been a member of ICAI since 2012, the firm comprises young and dynamic professionals.

Firm Credentials and Experience

The audit firm's experience spans across various industries, working with clients ranging from small and medium enterprises to large corporations. This diverse portfolio reflects their expertise and commitment to delivering quality professional services.

Disclosure Timeline and Formal Communication

The company submitted its formal disclosure to BSE Limited on March 2, 2026, signed by Company Secretary and Compliance Officer Rishi Upadhaya. The disclosure explained that the submission timing was due to the Board's approval being received on Friday, February 27, 2026, after business hours, followed by weekend non-working days on February 28 and March 1, 2026.

Regulatory Framework

The appointment process adhered to multiple regulatory requirements, including provisions under the Companies Act, 2013, and SEBI regulations. The company confirmed that no relationships exist between the new auditors and the company's directors, ensuring independence in the audit function. The disclosure was made in accordance with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, with all required annexures forming an integral part of the intimation.

Asston Pharmaceuticals Limited has announced the resignation of its statutory auditor M/s. Doshi Doshi & Co, Chartered Accountants, through a regulatory filing with BSE Limited dated January 29, 2026. The auditing firm tendered their resignation with immediate effect from January 28, 2026, citing professional constraints as the primary reason.

Auditor Resignation Details

M/s. Doshi Doshi & Co, with registration number 153683W, expressed their inability to continue as statutory auditors through a formal resignation letter dated January 28, 2026. The firm was originally appointed under Section 139 of the Companies Act, 2013, for a five-year term commencing from September 30, 2024, with the term scheduled to expire at the conclusion of the Annual General Meeting in 2029.

Reason for Resignation

The auditing firm cited preoccupation with other assignments as the primary reason for their resignation. In their resignation letter, Doshi Doshi & Co stated that due to their commitments with other clients, they were unable to devote adequate time to the audit of Asston Pharmaceuticals' affairs. To maintain professional objectivity and audit quality, the firm considered it appropriate to step down from their position.

Company's Response and Next Steps

Asston Pharmaceuticals confirmed that the resigning auditor raised no concerns regarding the company's management, and there were no material reasons beyond those stated for the resignation. Consequently, no deliberation by the Audit Committee was required, and no disclosure of the Audit Committee's view was deemed applicable.

The company stated that the Audit Committee and Board would consider the appointment of new statutory auditors in due course to fill the casual vacancy created by the resignation. The appointment process and timeline will be communicated through appropriate regulatory channels once finalized.

Completed Audit Work

Prior to their resignation, M/s. Doshi Doshi & Co completed the limited review of Asston Pharmaceuticals' financial results for the half year ended September 30, 2025. The auditing firm submitted their limited review report on November 14, 2025, ensuring that the company's recent financial reporting obligations were fulfilled before the transition.

Regulatory Compliance

The resignation has been disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. All required documentation, including detailed information as per SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, has been provided to the stock exchange. The resigning auditor will file the prescribed Form ADT-3 with the Registrar of Companies within the stipulated timeframe as required under the Companies Act, 2013.