J b chemicals and pharmaceuticals Limited has issued a corrigendum to rectify a date error in its board meeting outcome regarding a promoter reclassification request. The pharmaceutical company filed the correction on January 21, 2026, addressing an inadvertent mistake in the original board meeting disclosure.

Correction Details

The corrigendum specifically addresses serial number 4 of the board meeting outcome filed earlier on January 21, 2026. The company clarified that Tau Investment Holdings Pte. Ltd's request letter for reclassification was incorrectly dated as October 21, 2026, when the actual date was January 21, 2026.

Regulatory Framework

Tau Investment Holdings Pte. Ltd has requested reclassification from 'Promoter' to 'Public' category in accordance with Regulation 31A(10) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The entity has confirmed compliance with all applicable requirements under the specified regulation.

Filing and Compliance

The company has taken the following actions to ensure proper disclosure:

• Filed the corrigendum with BSE Limited on January 21, 2026
• Submitted the corrected request letter dated January 21, 2026 to stock exchanges
• Provided clarification through proper regulatory channels

The corrigendum was signed by Sandeep Phadnis, Vice President – Secretarial & Company Secretary, ensuring compliance with corporate governance requirements. The company has requested the stock exchange to take the correction on record for maintaining accurate regulatory filings.

J B Chemicals and Pharmaceuticals Limited has undergone a significant ownership change with Torrent Pharmaceuticals Limited acquiring controlling stake through a major share purchase transaction completed on January 21, 2026. The acquisition has triggered substantial board restructuring and leadership changes at the pharmaceutical company.

Major Stake Acquisition Completed

The company's board has taken on record the successful transfer of 7,44,81,519 equity shares from Tau Investment Holdings Pte. Ltd. to Torrent Pharmaceuticals Limited on January 21, 2026. This transaction represents 46.39% of the company's equity share capital on a fully diluted basis, executed in accordance with the share purchase agreement dated June 29, 2025, along with an addendum dated July 3, 2025.

Control Transfer and Promoter Reclassification

Following the share acquisition, Torrent Pharmaceuticals Limited has officially acquired control over JB Chemicals and has been classified as the new promoter of the company in accordance with applicable laws and listing regulations. Simultaneously, Tau Investment Holdings has been reclassified from the 'promoter' category to 'public' category with effect from January 21, 2026, satisfying all requirements under Regulation 31A(10) of the listing regulations.

Board Restructuring and Director Resignations

The change in control has resulted in the resignation of three non-executive non-independent directors from the board, effective from the conclusion of the January 21, 2026 board meeting. The departing directors include:

All three directors cited the change in company control as per the share purchase agreement as the primary reason for their resignations, with no other material reasons mentioned.

CEO and Whole-time Director Resignation

In a significant leadership change, Mr. Nikhil Chopra has resigned from his dual role as Chief Executive Officer and Whole-time Director. His resignation as Whole-time Director became effective from the conclusion of the January 21, 2026 board meeting, while he will continue serving as CEO until March 31, 2026.

Mr. Chopra has also resigned from his positions in the Corporate Social Responsibility Committee, Stakeholders' Relationship Committee, and Risk Management Committee of the board.

Regulatory Compliance and Documentation

The board meeting, which commenced at 1:15 PM and concluded at 2:02 PM on January 21, 2026, addressed all necessary regulatory disclosures under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided comprehensive documentation including resignation letters from all departing directors and detailed annexures outlining the reasons and timelines for each resignation, ensuring full compliance with applicable listing regulations and statutory requirements.