Announcement under Regulatiion 30 (LODR) - Appointment of Statutory Auditor
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The Board of Directors of Corporate Merchant Bankers Ltd held a meeting on 11 February 2026 and recommended the appointment of M/s. D D S & Associates, Chartered Accountants (Ahmedabad, FRN: 120362W), as the new Statutory Auditor for FY 2025-26, subject to shareholder approval within three months. The appointment fills a casual vacancy caused by the resignation of the previous auditor, M/s. J Singh & Associates. Additionally, the Board withdrew its earlier recommendation (dated 6 February 2026) to appoint M/s. Shweta Jain & Co. LLP, after that firm cited unavoidable circumstances. The new auditor firm is a proprietorship led by CA Dinesh D. Shah, in practice since 1999, peer-reviewed, and empanelled with CAG and RBI.
Shareholders should note that this is a mid-term change of statutory auditor, which is often viewed by investors as a governance red flag and may raise questions about what triggered the prior auditor's resignation. A General Meeting will be convened within three months to approve the new appointment.