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.
Starlit Power Systems Ltd has informed BSE that its statutory auditor, M/s H K Chhabra & Co (Firm Registration No. 010917N), has resigned effective May 7, 2025. The auditor was originally appointed on February 14, 2025, with the term scheduled to expire on May 13, 2025 — meaning the firm served only about three months. In the resignation letter, the auditor cited the company's inability to convene an Extraordinary General Meeting (EGM) within the prescribed timeline due to practical constraints, which affected the timely ratification and related SEBI LODR compliances. The auditor confirmed there were no other concerns and no communication to the Audit Committee prior to resignation, and will be filing Form ADT-3 with the Registrar of Companies. The filing has been signed by Director Pankaj Saxena.
This raises mild governance concerns for shareholders, as a listed entity failing to hold a timely EGM for auditor ratification is a compliance lapse. However, since the auditor did not flag any issues with the financial statements or management, and the resignation came just days before the scheduled term expiry, the direct impact on the stock is likely limited. Investors should watch for appointment of a replacement auditor and any delayed filings.