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Panacea Biotec Ltd. — Audit Report / Information 2024
Aug 14, 2024
62573_rns_2024-08-14_4ffb6a06-9f1c-4b9f-b902-90c7aea16767.pdf
Audit Report / Information
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August 14, 2024
The Manager, Listing Department The National Stock Exchange of India Ltd. Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051 NSE Symbol: PANACEABIO
BSE Limited Corporate Relationship Department, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001 BSE Scrip Code: 531349
Sub: Disclosure of Audit Committee views on resignation of the Statutory Auditors of the Company’s material subsidiary, Panacea Biotec Pharma Limited
Dear Sir/Madam,
In continuation to our letter dated August 13, 2024 and pursuant to SEBI Circular No. CIR/CFD/CMD1/114/2019 dated October 18, 2019, we would like to inform you that that the Audit Committee of Board of Directors of the Company at its meeting held today i.e. August 14, 2024, have inter alia considered and taken note of resignation of M/s Walker Chandiok & Co. LLP, Chartered Accountants (Firm Regn. No: 001076N/N500013) as the statutory auditors of the Company’s material subsidiary, Panacea Biotec Pharma Limited (“PBPL”) w.e.f. the close of business hours on August 13, 2024.
The Audit Committee of the Company also noted that there are no other reasons other than as mentioned in their resignation letter dated August 13, 2024 and that as per their resignation letter, they have resigned in view of the management’s intent to align the Statutory Auditors of material subsidiary, with the new Statutory Auditors of Panacea Biotec Limited (“the Company”) responsible for audit of consolidated accounts to avoid duplication and bring efficiencies in the audit process at group level.
The Audit Committee of the Company also placed on record their appreciation to M/s Walker Chandiok & Co. LLP, Chartered Accountants.
Thanking you,
Yours Sincerely
For Panacea Biotec Limited
Vinod Digitally signed by Vinod Goel Goel Date: 2024.08.14 18:28:27 +05'30' Vinod Goel
Group CFO and Head Legal & Company Secretary
Panacea Biotec Limited (CIN: L33117PB1984PLC022350) Regd. Office : Ambala Chandigarh Highway, Lalru – 140501, Punjab Correspondence/Corporate office : B-1 Extn../G-3, Mohan Co-op. Indl. Estate, Mathura Road, New Delhi - 110 044, India Ph.: 91-11-4167 9000, 4167 8000, Fax: 91-11-4167 9070 Email: [email protected]