Announcement under Regulation 30 (LODR) - Appointment of Statutory Auditor
Awaiting price reaction for this filing.
The Board of Quasar India Ltd, at its meeting on 12th February 2026, withdrew its earlier recommendation (dated 6th February 2026) to appoint M/s. Shweta Jain & Co. LLP as Statutory Auditor, citing unavoidable circumstances expressed by that firm. The Board has now recommended M/s. M A A K & Associates, Chartered Accountants (FRN: 135024W), Ahmedabad, as the new Statutory Auditor for FY 2025–26, subject to shareholder approval at a general meeting to be held within three months. Per Annexure A, the change is described as filling a casual vacancy caused by the resignation of the earlier auditor. The new firm has prior experience including statutory audits of listed companies and work at Deloitte Haskins & Sells.
For shareholders, this signals back-to-back changes in auditor within a short span — one resignation plus one firm declining the role — which may warrant a closer look at governance and audit continuity, though no immediate financial impact is indicated.