Appointment of Statutory Auditor of the Company for the Financial Year 2020-21
Awaiting price reaction for this filing.
The board of Manpasand Beverages accepted the resignation of M/s BAGARIA & CO LLP as statutory auditor for FY 2020-21, with the company stating that no concerns were raised and no material reason was given for the exit. To fill the resulting casual vacancy, M/s. Jayesh Sanghrajka & Co. LLP, Chartered Accountants (in practice since 1985) was appointed as the new statutory auditor and will serve until the next annual general meeting. Separately, Ms. Bijal Hitesh Mehta was appointed as Internal Auditor and M/s. D N Vora & Associates as Secretarial Auditor for FY 2020-21. The unusually late appointment for FY 2020-21 (being made in April 2025) suggests significant backlogs in audit and disclosure compliance at the company.
The change of auditor mid-engagement, even without stated concerns, may raise short-term governance questions among investors. The catch-up appointments across statutory, internal, and secretarial audit roles indicate the company is trying to clear long-pending compliance backlogs, which could be cautiously positive for transparency but highlights prior delays.