Appointment of Statutory Auditors, as enclosed.
ASHIKA · price
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Ashika Credit Capital Ltd's Board approved appointment of M/s J K V S & Co as new Statutory Auditors, replacing M/s DHC & Co who resigned effective May 17, 2026. The resignation was mandatory under RBI Directions as the company's total asset size crossed the prescribed threshold, making DHC & Co ineligible to continue. The outgoing auditors completed signing the FY2026 audit report with an unmodified opinion before stepping down. The company also announced a 5% dividend recommendation and plans to acquire Ashika Capital Ltd to make it a wholly-owned subsidiary.
The mid-term auditor change due to regulatory compliance is routine for growing NBFCs. No concerns were raised by the departing auditors, indicating no governance or accounting issues. The clean audit opinion and business expansion plans (acquisition of Ashika Capital Ltd) are positive signals for shareholders.