Godha Cabcon & Insulation Limited has informed the Exchange regarding Resignation of S C Somani And Associates as Other of the company w.e.f. August 14, 2025.
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Godha Cabcon & Insulation Limited has informed the stock exchange that S C Somani And Associates, Chartered Accountants has resigned as the company's Statutory Auditor with effect from August 14, 2025. The auditor was appointed only on June 19, 2025, less than two months before resigning, with their term originally scheduled to run until the conclusion of the 9th Annual General Meeting. The cited reason is a fee dispute — the auditor states that the effort required to audit a listed company has risen significantly while the audit fee offered was commercially unviable, and no mutually agreeable fee could be reached with management. The auditor has confirmed there are no other concerns, no issues with obtaining information, and no material reason behind the resignation beyond the fee disagreement.
Auditor resignations — even over fees — can raise governance red flags for retail investors, especially one that happened within two months of appointment. Shareholders should watch for the appointment of a new auditor promptly and monitor the upcoming AGM and audit-related disclosures for any further concerns.