Appointment of Statutory Auditor in place of retiring auditor
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City Pulse Multiventures Ltd's board, meeting on September 3, 2025, approved two key items. First, it recommended appointing M/s. Rajendra J. Shah & Co as the new Statutory Auditor for a 5-year term (from the 25th AGM on September 29, 2025 to the 30th AGM), replacing the retiring auditor M/s. SD Mehta & Co. The new auditor has over 37 years of experience in audit, taxation and consultancy. Second, the board approved altering the company's main objects clause to add two new businesses: setting up and operating solar power plants, and trading in petroleum products such as petrol, diesel and gas. Both items are subject to shareholder approval.
The auditor change is a routine rotation at the end of the existing auditor's term and is unlikely to affect the stock. The MOA alteration signals a potential diversification from its existing multiplex business into solar energy and fuel trading, which could reshape the company's future revenue profile if shareholders approve and operations begin.