Statutory Auditor resigns mid-term citing missing records and unpaid fees

Auditor resigned mid-termDirector flagged a governance concernManagement Changes View source PDF Explain this filing

AURIGROW · price

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Price reactionminutes from the announcement price · days from the prior close

-6.3%Reaction day

₹0.32

prior close

₹0.31

announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used-0.3%-6.0% vs market

Cables - Electricals peers, median of 12sector+0.2%-6.5% vs sector

On the reaction day the stock moved 6.0 pts less than Nifty Microcap 250 and 6.5 pts less than its Cables - Electricals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

-6.3-0.3-6.0+0.2-6.5

Next day

-9.4+0.8-10.1+0.5-9.9

-9.4+0.9-10.3+1.3-10.7

-12.5+1.8-14.3+0.9-13.4

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UpDownMarket · Nifty Microcap 250Sector · Cables - Electricals peers, median of 12Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Auri Grow India's statutory auditor S Parth & Co resigned mid-term effective June 25, 2026. The auditor cited two reasons: the company failed to provide books of account, supporting documents and explanations needed for the audit, and professional fees remained unpaid despite repeated reminders. The auditor flagged that the inability to obtain sufficient audit evidence was a management-imposed limitation with potential significant impact on financial statements, and noted similar information gaps were prevalent in previously reported results. Auditor was appointed in August 2025 with term running to FY 2028-29 AGM.

Likely market impact

Serious governance red flag. Watch for restated financials, new auditor appointment, and possible regulatory scrutiny.