Appointment of Statutory auditor in place of retiring statutory auditor
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The board of City Pulse Multiventures Ltd (BSE: CPML) met on September 3, 2025 and approved two key items. First, it recommended appointing M/s. Rajendra J. Shah & Co (FRN: 0108369W) as the new statutory auditor for a 5-year term, replacing the retiring auditors M/s. SD Mehta & Co. The new auditor's term runs from the 25th AGM on September 29, 2025 to the 30th AGM. The new audit firm has over 37 years of experience in audit, tax, and consultancy services. Second, the board approved expanding the company's main objects to include solar power plant operations and the trading/distribution of petroleum products like petrol, diesel, and gas, subject to shareholder approval.
Shareholders should note that the company is broadening its business scope significantly into solar energy and petroleum trading, which represents a major strategic shift from its earlier multiplex business. The auditor change appears routine as it coincides with the AGM and follows the standard 5-year rotation cycle, so no governance red flags are evident from this disclosure.