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M/s. Hemadri & Co, Chartered Accountants has resigned as the statutory auditor of Dynavision's material subsidiary, Dynavision Green Solutions Limited, effective May 15, 2025. The auditor cited 'unforeseen personal circumstances' and explicitly confirmed there are no concerns about the company, no management-imposed limitations, and no other material reasons for the exit. The auditor had been appointed at the 1st AGM on September 25, 2023, for a full 5-year term ending with the conclusion of the 5th AGM (FY 2027-28), making this a mid-term resignation. Notably, the auditor submitted the FY 2024-25 audit report on the same day as the resignation. The Audit Committee and Board of the subsidiary noted no reasons beyond what was stated in the resignation letter.
This is a subsidiary-level administrative change and not a direct red flag — the auditor explicitly ruled out any concerns about the company. However, shareholders should watch for timely appointment of a new statutory auditor for Dynavision Green Solutions Limited, as any delay could create minor compliance friction. The parent's own audit and operations remain unaffected.