Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Resignation of Statutory Auditors
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Bilcare Limited's statutory auditor, Sharp & Tannan Associates (Firm Reg. No. 109983W), resigned with effect from 14 August 2025, well before the end of their scheduled term (which ran until the 2028 AGM). The trigger was the expiry of the auditor's tenure at key subsidiary Caprihans India Limited; the company wants a common audit firm for the Parent and Subsidiary going forward, to improve efficiency and group-level SA600 compliance. The auditor additionally cited bandwidth constraints caused by an ongoing regulatory matter that demanded disproportionate senior-level time. Sharp & Tannan has confirmed there are no concerns about the company's financial statements, accounting policies, or governance. The FY25 audit is already complete and the Q1 FY26 limited review is being finalized, so there is no unfinished audit work.
Since the outgoing auditor has explicitly flagged no governance or accounting concerns and the change is described as mutual and planned, the immediate risk to shareholders appears low. However, the company will need to appoint a replacement auditor quickly, and any unusual choice or further delays could attract scrutiny, so investors should watch for the new auditor announcement.