Crest Ventures Limited has informed the Exchange about developments with regards to Crest Finserv Limited, a material subsidiary of the Company.
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Crest Ventures informed the exchange that M/s. Pathak H.D. & Associates LLP has resigned as Statutory Auditors of its material subsidiary, Crest Finserv Limited, effective July 23, 2025. The outgoing auditor cited the firm's own strategic decision to downsize its professional operations as the reason, and confirmed there are no concerns, no management-imposed limitations, and no outstanding information requests. The auditor had already completed the limited review for the quarter ended June 30, 2025 before stepping down. To fill the resulting casual vacancy, Crest Finserv has appointed M/s. Chaturvedi & Shah LLP, a well-established Mumbai-based Chartered Accountants firm founded in 1967, effective July 24, 2025, for a three-year term subject to shareholder approval at the next AGM.
This is a routine mid-term auditor rotation driven by the outgoing firm's internal decision to scale down, not by any governance or financial concern. The replacement by Chaturvedi & Shah, a reputed and peer-reviewed firm, should be neutral to slightly positive for credibility. No direct material impact on Crest Ventures shareholders is expected.