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The board of Corporate Merchant Bankers Limited (Scrip Code: 540199) met on 11th February 2026 and withdrew its earlier recommendation to appoint M/s. Shweta Jain & Co. LLP as statutory auditor, after that firm cited unavoidable circumstances. The board has now recommended M/s. D D S & Associates, a peer-reviewed Ahmedabad-based chartered accountancy firm led by CA Dinesh D. Shah (FRN: 120362W), as the new statutory auditor to fill a casual vacancy caused by the resignation of the previous auditor, M/s. J Singh & Associates. The appointment covers only the financial year 2025-26 and needs shareholder approval at a general meeting to be held within three months. This is the second auditor change for the company in a short period, which is worth noting.
Frequent changes in auditors can be a red flag for retail investors, suggesting possible governance or accounting concerns, even though the company has cited routine reasons. The new auditor is empanelled with CAG and RBI, which lends some credibility, but shareholders should watch for further clarity in upcoming disclosures.