Announced Wed, 19 Aug · 12:40 IST
Statutory Auditor KSMC and Associates resigns mid-term citing low fees
ADVIKCA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-2.4%1-day move
₹1.25
prior close
₹1.21
base price
In-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.0+0.0+0.0+0.0-2.4-3.2-3.2-2.4-4.8-4.8-13.6-22.4——
Up moveDown movePending
AI summary
Advik Capital's statutory auditor KSMC and Associates resigned effective August 15, 2026, well before their scheduled term expiry at the 42nd AGM in 2027. The auditor cited inadequate professional fees relative to the time and resources needed, noting the company is facing financial constraints and losses and cannot revise fees. All pending quarterly reviews including Q1 FY27 were completed before exit. No other material reasons were cited.
Likely market impact
Mid-term auditor exit over fees hints at financial stress and may worry investors until a new auditor is appointed.