Disclosure under Regulation 30 of SEBI(LODR), 2015 regarding resignation of statutory auditor "H K Chhabra & Co" with effect from 7th May, 2025.
Awaiting price reaction for this filing.
Alstone Textiles (India) Ltd has informed the BSE that its statutory auditor, M/s H K Chhabra & Co (Firm Registration No. 010917N), has resigned from the position effective 7th May 2025. The auditor was only recently appointed on 14th February 2025, with the term originally scheduled to expire on 13th May 2025. In the resignation letter, the auditor cited the company's failure to convene an Extraordinary General Meeting (EGM) within the prescribed time as the reason, which affected timely ratification of the appointment and related SEBI LODR compliance. The auditor also stated it will file Form ADT-3 with the Registrar of Companies to formally record the resignation. No concerns regarding management-imposed limitations or information gaps were flagged.
This is a short-tenure auditor exit just before the scheduled term-end, driven by the company's failure to hold a required EGM for ratification. While no audit-quality concerns were raised, the episode signals weak compliance and governance discipline, which may concern investors about the company's internal processes.