Appointment of Statutory Auditor of M/s. TDK & Co. w.e.f. from 06.06.2025
Awaiting price reaction for this filing.
RRP Defense Ltd's board, at a meeting on June 6, 2025, accepted the resignation of its statutory auditor A Arora & Co. and appointed M/s TDK & Co. as the new statutory auditor effective the same date. Notably, the resignation letter from A Arora & Co. cited 'no response on inconsistency in books of accounts and other queries raised' as the reason for stepping down. TDK & Co., a peer-reviewed Chartered Accountancy firm, will now handle auditing, tax, and management consultancy for the company. The originally scheduled June 5 board meeting was rescheduled to June 6.
This is a red flag for shareholders — the outgoing auditor explicitly raised concerns about inconsistencies in the company's books of accounts before quitting, which could lead to governance scrutiny, potential restatement risks, or downward pressure on the stock as investors digest the implications.