Bhagiradha Chemicals & Industries Limited has informed the Exchange regarding ' Change in Statutory Auditors of Material Unlisted Subsidiary of the Company'.
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Bhagiradha Chemicals has informed the exchanges that its wholly owned subsidiary Bheema Fine Chemicals Private Limited has changed its statutory auditor. M/s. S. Singhvi & Co resigned effective end of business on May 13, 2025, citing pre-occupation, time constraints, and the increased scale of the subsidiary's operations. Importantly, the outgoing auditor stated there were no disputes or concerns with management and had already submitted the audit report for FY25 on May 3, 2025. M/s. R. Kankaria & Uttam Singhi, Chartered Accountants (with over 43 years of experience in auditing listed and closely held companies), has been appointed effective May 14, 2025 to fill the casual vacancy, and is also recommended for a full 5-year term through FY 2029-30, subject to shareholder approval.
This is a routine auditor change at the subsidiary level with no governance red flags — the outgoing auditor explicitly confirmed full cooperation from management and no disputes. Shareholders are unlikely to see any material impact on the parent company's stock; the change is administrative in nature.