AXITA COTTON LIMITED has informed the Exchange about Resignation of Statutory Auditor
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Mistry and Shah LLP, Chartered Accountants, has resigned as the Statutory Auditor of Axita Cotton Limited with effect from August 11, 2025. The firm was originally appointed on September 30, 2024, with a term scheduled to run until September 30, 2029. The resignation is attributed to an internal strategic realignment at the audit firm, which has decided to restrict its assurance services including statutory audits. The auditor has explicitly stated that the resignation is not linked to the company's operations, governance, or financial performance, and that there are no concerns to be brought to stakeholders' attention. Before stepping down, the firm completed the FY25 audit (report dated May 26, 2025) and the Q1 FY26 limited review (report dated August 11, 2025). The company will now need to appoint a new statutory auditor.
This is a firm-level decision by the auditor and is not linked to any company issues, so the direct impact on shareholders should be limited. However, the company will need to find a replacement auditor soon, and any delay in appointment could create minor governance and compliance uncertainty.