Tavexia Lifecare Limited’s Board of Directors convened on September 7, 2026, approving the potential acquisition of up to 60% equity share capital in Meyonex Pharmaceuticals Limited. Directors Chirag Deepak Dedhia and Sachin Bhanubhai Manseta are authorized to lead preliminary evaluations, due diligence, and negotiations. The Board also approved the re-appointment of Mrs. Khushboo Vasudev as an Independent Director for a second five-year term, subject to shareholder approval.
Key Board Decisions on Acquisition and Governance
Tavexia Lifecare Limited held a significant Board of Directors meeting on Monday, September 7, 2026, making pivotal decisions regarding strategic growth and corporate governance. The Board has given its approval for the potential acquisition of up to 60% equity share capital in Meyonex Pharmaceuticals Limited, an unlisted public company. This move signals a strong intent to expand the company’s footprint in the pharmaceutical sector.
Acquisition Process and Authorization
To spearhead this strategic initiative, the Board has authorized Directors Mr. Chirag Deepak Dedhia and Mr. Sachin Bhanubhai Manseta, acting jointly or severally. They are empowered to conduct preliminary evaluations, due diligence, valuation, and negotiations for the proposed acquisition. Their mandate includes engaging with existing shareholders, discussing commercial and financial terms, reviewing all relevant company information, and appointing necessary professional advisors such as valuers, legal, and financial experts. They are also authorized to execute confidentiality agreements and other necessary documents to progress the transaction.
Director Re-appointment and Auditor Changes
In another key decision, the Board considered and approved the re-appointment of Mrs. Khushboo Vasudev (DIN: 08415000) as an Independent Director for a second term of five years, commencing from December 31, 2026. This re-appointment is subject to the approval of the company’s shareholders at the upcoming General Meeting. The Board also noted and accepted the resignation of its Statutory Auditors, M/s SSRV & Associates, with effect from September 7, 2026. Subsequently, they approved the appointment of M/s DEVAM & Associates LLP as the new Statutory Auditors for a term of five consecutive years, subject to shareholder ratification.
Other Board Matters
The meeting also covered several other critical operational and compliance matters. The Board approved the proposal for specific limits on Material Related Party Transactions, recommendatory for shareholder approval. They took on record the Secretarial Auditor’s Report for FY 2025-2026, noted the status of Statutory Registers, and reviewed the performance evaluation of auditors by the Audit Committee. Furthermore, the Board approved and adopted the Board Report, Corporate Governance Report, and Management Discussion and Analysis Report for the financial year ended March 31, 2026. They also fixed the date and calendar of events for the 46th Annual General Meeting, including the book closure period from September 24, 2026, to September 30, 2026, and appointed Mr. Brajesh Gupta as Scrutinizer for the e-voting process. The Managing Director and Company Secretary were authorized to issue the AGM notice and manage the e-voting process.
Source: BSE
