Intimation for Resignation of Statutory Auditor of the Company
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The statutory auditor of Bacil Pharma Ltd, M/s Laxmikant Kabra & Co LLP (FRN: 117183W), has resigned effective August 12, 2025, well before the completion of its term (originally scheduled to end at the 35th AGM in 2027). The auditor cited a substantial increase in workload and time commitment due to the company's growth in business, capital, and turnover, without a corresponding rise in audit fees. No concerns about the company's financial statements, management limitations, or prior reporting have been flagged. The latest audit report (for FY ended March 31, 2025) and the limited review report for Q1 FY26 were submitted before the resignation.
While the auditor cited a commercial/fee-based reason, any unexpected midterm resignation of a statutory auditor warrants attention from investors, as it may prompt scrutiny of financial reporting quality or signal a need to re-evaluate audit relationships. Shareholders should watch for the appointment of a new auditor and any resulting changes in audit timelines.