CONFIDENCE PETROLEUM INDIA LIMITED has informed the Exchange about Resignation of Statutory Auditor

Auditor Resigned MidtermManagement Changes View source PDF Explain this filing

CONFIPET · price

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Price reactionminutes from the announcement price · days from the prior close

+3.4%Reaction day

₹35.80

prior close

₹35.90

announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used+1.4%+1.9% vs market

LPG/CNG/PNG/LNG Supplier peers, median of 6sector+1.7%+1.7% vs sector

On the reaction day the stock moved 1.9 pts more than Nifty Microcap 250 and 1.7 pts more than its LPG/CNG/PNG/LNG Supplier peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Reaction day

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Next day

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UpDownMarket · Nifty Microcap 250Sector · LPG/CNG/PNG/LNG Supplier peers, median of 6Pending

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AI summary

M/s L N J & Associates, Chartered Accountants (FRN 135772W), one of the Joint Statutory Auditors of Confidence Petroleum India Limited, has resigned effective close of business on December 30, 2025. The firm was originally appointed on September 30, 2021 for a 5-year term, which was scheduled to run until the 41st Annual General Meeting for FY 2026-27. The auditor cited preoccupation with other personal and professional commitments as the reason for stepping down. Importantly, the firm had already completed the audit for FY ended March 31, 2025 and issued the limited review report for Q2 FY26 (quarter ended September 30, 2025) on November 14, 2025, shortly before resigning. The auditor confirmed there is no dispute with the company and no concerns about suppression of information by management.

Likely market impact

This is a mid-term auditor exit, but the reasons cited are personal rather than governance-related, and the auditor has signed off on the most recent annual audit and Q2 review without flagging any concerns. Shareholders should watch for the company's announcement of a new joint statutory auditor to fill the vacancy; the resignation itself is unlikely to materially impact the stock given the clean sign-off and routine explanation.