Disclosure under Regulation 30 of SEBI (LODR), 2015 regarding the resignation of Statutory Auditor "H K Chhabra & Co" w.e.f 7th May, 2025.
Awaiting price reaction for this filing.
Shri Niwas Leasing And Finance Ltd has informed the BSE that its statutory auditor, M/s H K Chhabra & Co (FRN: 010917N), has resigned effective May 7, 2025 — about six days before its scheduled term end of May 13, 2025. The auditor was originally appointed on February 14, 2025, and the firm had submitted its latest audit report on the same date. According to the auditor's resignation letter, the reason was the company's inability to convene an Extraordinary General Meeting (EGM) within the prescribed timeline due to practical constraints, which affected timely ratification and statutory compliances under SEBI LODR Regulations. The auditor confirmed there were no management-imposed limitations, no significant impact on financial statements, and no other material reasons behind the resignation. The company will need to file Form ADT-3 with the Registrar of Companies and appoint a new statutory auditor.
The resignation just before term expiry due to failure to hold a timely EGM for ratification points to governance and compliance shortcomings at the company. Shareholders should watch for the appointment of a new auditor and any further disclosures, as repeated compliance lapses could affect investor confidence in this small-cap BSE-listed entity.