Intimation of Appointment of New Statutory Auditors of the company
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The board appointed M/s. R B Gohil & Co as the new statutory auditor of the company after the previous auditor M/s. Sunit M Chhatbar & Co was not reappointed at the AGM held on 30th September 2025, leaving a casual vacancy. Mr. Keyurkumar Pravinbhai Patel, an existing Executive Director and CFO, has been elevated to the role of Managing Director for a five-year term. Two additional directors have also been appointed: Mr. Dharmesh Solanki as a Non-Executive, Non-Independent Director and Mr. Tahir Mustufa Masalawala as an Executive Director. A postal ballot notice has been approved to seek shareholder approval for all these appointments, with Mr. Himanshu Togadiya named as the scrutinizer for the voting process.
The non-reappointment of the previous auditor at the AGM may raise mild governance concerns for investors, while the elevation of an existing insider to Managing Director signals leadership continuity. All appointments will require shareholder confirmation through the postal ballot, making the outcome a key near-term event to watch.