Appointment of Mr. Ashwini Bansal Partner at R.Bansal as Statutory Auditor; Pusuant to the Resignation of erstwhile Statutory Auditor CA Rajat Bernawal Proprietor of M/s. Svaraj & Associates.
Awaiting price reaction for this filing.
RCI Industries and Technologies Limited has appointed Mr. Ashwani Bansal, Partner at R. Bansal & Co. (FRN 002736N), as its new Statutory Auditor on August 4, 2025, replacing M/s. SVARAJ & Associates (led by CA Rajat Barnwal), who resigned from the position. The appointment was approved by the Committee of Creditors (CoC) with a 66.83% majority vote and covers a five-year term from FY 2022-23 to FY 2026-27. Importantly, the company is currently under Corporate Insolvency Resolution Process (CIRP) initiated by NCLT Delhi on November 25, 2022, and its affairs are being managed by Resolution Professional Brijesh Singh Bhadauria, with the Board of Directors' powers suspended. Note: The headline mentions JTL Defence Ltd, but the filing body clearly identifies RCI Industries and Technologies Limited (Scrip Code: 537254).
This is a procedural auditor change during ongoing insolvency proceedings and does not directly affect shareholders' equity or stock price. However, the mid-term auditor change during CIRP signals governance turnover and is worth monitoring as part of the broader resolution process.