Outcome for Board meeting held on November 18, 2025
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The board of Cupid Breweries and Distilleries approved several changes at its meeting on November 18, 2025. M/s. MMRS & Co. has been appointed as the new Statutory Auditor to fill the casual vacancy left by the resignation of M/s. H. Rajen & Co., and will serve until the 40th Annual General Meeting, subject to shareholder approval. M/s. H M Shah & Co. was discontinued as Internal Auditor because they were engaged in services inconsistent with auditor independence requirements, and M/s. R Narsihma and Associates has been appointed in their place for the remainder of FY 2025-26. The board also approved a Postal Ballot Notice for shareholder voting. The meeting lasted just 12 minutes.
Shareholders should note the abrupt change in auditors, especially since the internal auditor was dropped on independence grounds. While the new auditors appear competent, sudden auditor turnover can sometimes raise governance red flags for investors.