The Resignation of Statutory Auditor is enclosed
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Awaiting price reaction for this filing.
Ahasolar Technologies' statutory auditor, M/s K.C. Parikh & Associates, resigned on 27th May 2025, well before the end of their 5-year term (which was scheduled to run until September 2027). The reason given was a fee dispute: the auditor had requested an increase in audit fees for FY26, but the company rejected it as financially unviable, prompting the auditor to step down saying current fees were 'significantly disproportionate to audit efforts.' The outgoing auditor had already completed the FY25 audit (signed off on the same day) but had not begun FY26 work. To fill the casual vacancy, the Board has appointed M/s Ambalal Patel & Co LLP as the new statutory auditor, subject to shareholder approval at the next AGM, and proposed their appointment for a fresh 5-year term.
This is a fee-driven auditor change rather than a governance red flag — the FY25 audit is already complete and a replacement is lined up quickly, limiting disruption. Shareholders should note the cost-saving motive behind the switch and watch for any future concerns flagged by the new auditor.