Announcement under Regulation 30 - Resignation of Statutory Auditor
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M/s. K M Chauhan and Associates, Chartered Accountants (Rajkot), has resigned as the Statutory Auditor of Darjeeling Ropeway Company Limited effective 28th July 2025. The auditor cited pre-occupation in other work and assignments as the reason. The firm had been appointed on 26 September 2024 with a scheduled term until 31 March 2028, so this is a mid-term resignation roughly 10 months into the term. The auditor had already completed the limited review report for the quarter ended 30 June 2025. Importantly, no concerns were raised about the company's management or operations, and the resignation was reviewed by the Audit Committee.
Shareholders should note this is a routine mid-term auditor change with no governance red flags, as the resigning auditor explicitly stated no concerns about management. The company will need to appoint a new statutory auditor soon, and the lack of any negative commentary suggests minimal impact on stock price, though investors should watch for disclosure of the replacement auditor.