Resignation of Statutory Auditors
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M/s. J Singh & Associates, Chartered Accountants (FRN: 110266W) has resigned as the Statutory Auditor of Corporate Merchant Bankers Limited with effect from 29th January 2026. The auditor cited the resignation of a key partner responsible for the company's audits and acute staff shortages as reasons, stating they could not complete the audit within the required timelines. The auditor was originally appointed on 29 December 2023 with a term scheduled to run until 30 September 2028, making this a midterm exit. The resigning auditor confirmed there are no concerns regarding the company's management or operations, and the Audit Committee has reviewed the resignation. The last limited review report submitted by the firm was for the quarter ended 30 September 2025.
Shareholders should note that the auditor stepped down for internal resource reasons at the firm and not due to any concerns about the company, so this is not a governance red flag. However, the company will now need to appoint a new statutory auditor, which could introduce short-term uncertainty around the completion of the ongoing audit cycle.