CHEMBOND MATERIAL TECHNOLOGIES LIMITED has informed the Exchange about Resignation of Statutory Auditor
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M/s. S H B A & CO LLP, Chartered Accountants, has resigned as the Statutory Auditor of Chembond Material Technologies Limited effective August 14, 2025, at the AGM. The resignation comes mid-term, as the auditor's appointment was scheduled to run until the 2028-29 AGM. The auditor had already completed and issued the audit report for FY ending March 31, 2025 and the limited review for Q1 FY26 (quarter ended June 30, 2025) before stepping down. The reason cited is the company's composite scheme of arrangement, which involves a demerger of the CC&WT undertaking into Chembond Chemical Specialties Limited (CCSL) and merger of three subsidiaries into CMTL. S H B A & CO LLP will continue as statutory auditors of CCSL (the resulting company), and the auditors of the merged subsidiaries will take over as statutory auditors of CMTL to ensure continuity.
This is a planned, orderly change of auditor driven by the company's restructuring rather than any governance concern — the auditor confirmed no other reasons for resignation and there were no disagreements or information gaps. Shareholders are unlikely to see a negative impact on the stock; the company will need to appoint new auditors in due course.