Auro Laboratories Limited, a notable pharmaceutical company, has officially informed the Bombay Stock Exchange (BSE) about the resignation of its Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), Ms. Shaan Jain. The resignation is effective from December 18, 2024.

The company disclosed the information in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI Circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123, dated July 13, 2023.

Key Details of the Resignation:

The company clarified that Ms. Shaan Jain will cease to hold the position of CFO and Key Managerial Personnel (KMP) as per the provisions of Section 203 of the Companies Act, 2013, starting from the mentioned date.

Confirmation on Reasons for Resignation:

Auro Laboratories Limited has received a formal resignation letter from Ms. Shaan Jain, wherein she has stated that the resignation is due to personal reasons and confirmed that there are no other material concerns prompting this decision.

The company's Whole-Time Director, Mr. Siddhartha Deorah (DIN: 00230796), signed and issued the formal communication to the stock exchange and relevant regulatory bodies.

Company's Next Steps:

The company assured stakeholders and regulatory authorities that they are actively seeking a new Chief Financial Officer. A formal announcement regarding the appointment of the new CFO will be made to the stock exchanges as per the applicable regulations.

Quote from the Company Communication:

"The Company is in the process of appointing a new Chief Financial Officer, and the same will be communicated to the Stock Exchanges in due course."

Resignation Letter Excerpt:

Ms. Shaan Jain, in her resignation letter, expressed gratitude for the opportunities and experience gained during her tenure at Auro Laboratories Limited. The resignation letter reaffirms the absence of any material reasons beyond personal circumstances for stepping down.

"Please accept this mail as formal resignation from the post of Accounts Manager/CFO with Auro Laboratories Limited due to personal reasons, and there is no material reason for my resignation."

About Auro Laboratories Limited:

Auro Laboratories Limited is engaged in the manufacturing and supply of high-quality pharmaceutical intermediates and active pharmaceutical ingredients (APIs). Based in Mumbai, the company has a strong market presence with operations at its M.I.D.C. Tarapur unit located in Palghar, Maharashtra.

Regulatory Compliance:

This announcement aligns with the requirements under:

1. Regulation 30 of SEBI (LODR) Regulations, 2015
2. Clause 7A of Part A of Schedule III
3. Relevant SEBI Circulars

The formal resignation communication has been filed with BSE Limited and other regulatory authorities.

Conclusion:

The resignation of Ms. Shaan Jain marks a significant change in Auro Laboratories' leadership team. The company is committed to maintaining transparency and complying with all regulatory obligations while ensuring minimal disruption to its financial and operational workflows.

Stakeholders will be updated once the new CFO is appointed, which will be formally communicated to the BSE and other stock exchanges.

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