Appointment of Internal Auditor and Secretarial Auditor of the Company for Financial Year 2020-21
Awaiting price reaction for this filing.
The board, at its meeting on 24 April 2025, accepted the resignation of M/s Bagaria & Co LLP as Statutory Auditor of Manpasand Beverages. The company stated there were no concerns raised by the outgoing auditor and no material reason for the resignation. To fill the casual vacancy, M/s Jayesh Sanghrajka & Co. LLP (Chartered Accountants) was appointed as the new Statutory Auditor for FY 2020-21, to hold office until the next AGM. In addition, Ms Bijal Hitesh Mehta was appointed as Internal Auditor and M/s D N Vora & Associates as Secretarial Auditor, both for FY 2020-21. The filing is dated April 2025 but pertains to FY 2020-21, indicating significant delay in completing the audit cycle for that year.
Auditor changes at this stage can raise governance concerns for retail investors. The fact that these appointments relate to FY 2020-21 in 2025 suggests the company's audit process has been unusually delayed, which investors should monitor closely.