Chembond Material Technologies Limited has informed the Exchange regarding Resignation of Ms S H B A CO LLP as Statutory Auditor of the company w.e.f. August 14, 2025.
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Chembond Material Technologies informed the exchanges that M/s. S H B A & CO LLP (formerly Bathiya & Associates LLP) has resigned as the company's Statutory Auditor with effect from August 14, 2025. The auditor had originally been appointed for a five-year second term from August 2023 to the 2028-29 AGM, making this a midterm exit. SHBA & CO LLP had already completed the FY25 audit (report dated May 30, 2025) and the Q1 FY26 limited review (report dated July 25, 2025) before stepping down. The reason is the company's composite scheme of arrangement — a demerger of the CC&WT business into Chembond Chemical Specialties Limited (CCSL) and a merger of three subsidiaries into the company. SHBA & CO LLP will continue as statutory auditors of CCSL, while the auditors of the merging subsidiaries are expected to take over at Chembond Material Technologies for continuity. The auditor confirmed there are no other concerns or unresolved issues.
This is an orderly, planned auditor transition tied to a corporate restructuring (demerger and reverse merger), not a governance red flag. The company will need to appoint a new statutory auditor, but since audits are up to date and the change is mutually agreed, the impact on shareholders should be neutral.