BHAGIRADHA CHEMICALS & INDUSTRIES LIMITED has informed the Exchange about Resignation of Statutory Auditor
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The statutory auditor of Bhagiradha's wholly owned subsidiary Bheema Fine Chemicals Private Limited, M/s. S. Singhvi & Co., resigned effective May 13, 2025, citing pre-occupation, time constraints, and the increased operations of the company. The firm had already submitted the audit report for FY ended March 31, 2025 on May 03, 2025, and stated there are no disputes or concerns with the company's management. The subsidiary's board accepted the resignation and appointed M/s. R. Kankaria & Uttam Singhi, Chartered Accountants, a Hyderabad-based firm with over 43 years of experience, as the new statutory auditor from May 14, 2025 to fill the casual vacancy, with a recommendation for a full 5-year term through FY 2029-30 subject to shareholder approval. The original auditor's term was scheduled to run until the 6th AGM in 2026, so this is a midterm exit rather than a natural end of tenure.
This is a routine auditor change at the subsidiary level with no governance red flags — the outgoing auditor flagged no concerns and had already completed the FY25 audit. Shareholders are unlikely to see any meaningful impact on the stock, though the seamless transition to a more experienced firm may be mildly reassuring.