Appointment of Statutory Auditor of the company
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Bansisons Tea Industries' Board accepted the resignation of its existing Statutory Auditor, M/s. A A A M & CO LLP (FRN: 038189N), effective May 10, 2025. The reason cited is the demerger/merger of the audit firm, where the signing partner's existing firm is merging into M/s Mohit Yogesh Jain & Co. — the same signing auditor, Mr. Mohit Jain, will continue. To fill the casual vacancy, the Board appointed M/s. D.G.M.S & Co. (FRN: 0112187W), based in Jamnagar, as the new Statutory Auditor effective May 10, 2025, to hold office until the next AGM in 2025. The previous auditor had been appointed on September 30, 2024, with term scheduled to expire on March 31, 2029, making this a mid-term change. The company confirmed there are no other concerns or reasons beyond the firm restructuring.
This is a routine auditor transition driven by a firm-level merger/restructuring, not any governance dispute or audit quality concern. The signing auditor remains the same, so continuity in audit oversight is maintained. Shareholders are unlikely to see a material impact on the stock or financials from this change.