Mumbai, Sept 15: Tavexia Lifecare Limited (formerly Sattva Sukun Lifecare Limited) Tavexia, today announced a series of strategic and governance decisions taken by its Board of Directors at its meeting held on September 7, 2026.
As part of its expansion into pharmaceutical manufacturing, the Board has considered a proposal to acquire up to 60% of Meyonex Pharmaceuticals Limited, an unlisted pharmaceutical manufacturing company based in Tarapur, Palghar, Maharashtra. The Board has authorised Mr. Chirag Deepak Dedhia and Mr. Sachin Bhanubhai Manseta, Directors of Tavexia, to lead preliminary discussions, due diligence, valuation and negotiations. The proposed transaction remains subject to satisfactory due diligence, valuation, negotiations and execution of definitive agreements.
The Company is exploring opportunities across pharmaceutical products, active pharmaceutical ingredients (APIs) and intermediates, specialty chemicals, nutraceuticals, biotechnology, and contract research and manufacturing, with the objective of developing a diversified and sustainable business platform. Through this strategic transition, Tavexia aims to evaluate opportunities that can potentially enhance its operating capabilities, broaden its addressable market and create multiple avenues for future growth.
The Company has received the resignation of M/s SSRV and Associates, Chartered Accountants, as Statutory Auditors, effective September 7, 2026, citing preoccupation with other professional commitments. The firm confirmed that there were no reportable concerns communicated to the Audit Committee or the Board prior to its resignation. To ensure continuity in statutory reporting and compliance, the Board approved the appointment of M/s DEVAM & Associates LLP, Chartered Accountants, as the new Statutory Auditors, subject to shareholder approval. The proposed appointment is for a first term of five consecutive years, from FY 2026-27 to FY 2030-31.
The Board has approved the re-appointment of Mrs. Khushboo Vasudev as an Independent Director for a second term of five years, effective December 31, 2026, subject to shareholder approval. With over ten years of experience in corporate law, corporate management and compliance, her continued association is expected to support the Company’s governance, strategic oversight and decision-making as Tavexia enters its next phase of growth.
The recent developments reflect Tavexia’s efforts to strengthen its foundation for future growth. The proposed Meyonex Pharmaceuticals acquisition could expand its manufacturing capabilities and pharmaceutical presence, while its broader focus on pharmaceuticals, APIs, intermediates, specialty chemicals, nutraceuticals, biotechnology and contract research and manufacturing aims to build a diversified growth platform. Tavexia will continue to keep shareholders and stock exchanges informed of material developments in accordance with applicable regulatory requirements.
Tavexia Lifecare Limited is a listed company undertaking a strategic transition towards the pharmaceutical, chemicals and lifecare sectors. The Company intends to explore opportunities across pharmaceuticals, APIs and intermediates, specialty chemicals, nutraceuticals, biotechnology and contract research and manufacturing, with the objective of building a sustainable, diversified and growth-oriented business platform.