Resignation of Statutory auditor of the company
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Bansisons Tea Industries announced that its statutory auditor M/s. A A A M & CO LLP (FRN: 008113C/C400292) resigned on May 10, 2025, just about 7 months into a 5-year term that was scheduled to run until March 31, 2029. The reason cited is the internal restructuring of the audit firm due to a merger involving the signing partner's firm. The auditor explicitly stated there are no concerns with the company, no governance issues, and that the same signing partner (Mr. Mohit Jain) will continue, so there is no SEBI circular violation. 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, until the next AGM in 2025. The latest audit report submitted by the previous auditor was dated February 5, 2025.
This is a routine auditor change driven by the audit firm's internal restructuring, not by any disagreement or governance red flags with the company. Shareholders should not read this as a negative signal, though the appointment of a new auditor for the current financial year will require a short onboarding period before the next audit cycle.