Resignation of Statutory Auditor of the company w.e.f from closing of business hours 28.05.2026
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Ambassador Intra Holdings Limited held its Board meeting on 28th May 2026, approving audited financial results for Q4 and FY ended March 2026. Total income rose sharply to Rs. 457.65 Lakhs from Rs. 64.19 Lakhs in the prior year, though the company posted a net loss of Rs. 8.70 Lakhs versus a profit of Rs. 16.48 Lakhs in FY2025. Total comprehensive income was Rs. 107.33 Lakhs, boosted by Rs. 116.02 Lakhs in other comprehensive income. Total assets nearly doubled to Rs. 994.58 Lakhs. Two key resignations occurred: Non-Executive Director Mr. Durgesh Pandey resigned on 8th May citing personal reasons, and Statutory Auditor M/s Maark & Associates resigned on 28th May citing disagreement over audit fees — they stated the proposed remuneration would not be commensurate with audit efforts. The auditors issued an unmodified opinion. The company appointed M/s S. Mandawat & Co as Internal Auditor for FY 2026-27.
The statutory auditor's mid-term resignation due to fee disputes is a governance concern, as it may indicate internal tensions over audit quality or cost-cutting. Investors should monitor the appointment of a new statutory auditor. The doubling of assets and surge in revenue need scrutiny given the net loss and large other comprehensive income.