Disclosure under Regulation 30 of SEBI(LODR), 2015 regarding resignation of Statutory Auditor "H K Chhabra & Co" with effect of 7th May, 2025.
Awaiting price reaction for this filing.
Sunshine Capital Ltd has informed the stock exchange that its Statutory Auditor, M/s. H K Chhabra & Co (FRN: 010917N), has resigned from the position effective May 7, 2025. The auditor was appointed only on February 14, 2025, with a term scheduled to expire on May 13, 2025, meaning the resignation came just 6 days before the end of the term. According to the resignation letter, the auditor stepped down because the company failed to convene an Extraordinary General Meeting (EGM) within the prescribed time to ratify the auditor's appointment, which created issues with timely statutory compliances under SEBI LODR Regulations. The auditor confirmed there were no prior concerns raised with the Board or Audit Committee. The auditor will file Form ADT-3 with the Registrar of Companies (ROC) to formally record the resignation.
This is a short-tenure auditor change driven by the company's own inability to hold a timely EGM for ratification, which may raise minor governance concerns about compliance discipline. However, since the auditor cited no audit-related concerns and the term was nearly complete, the immediate financial or share-price impact is likely limited. Shareholders should watch for timely appointment of a new auditor.