Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligationsand Disclosure Requirements) Regulations, 2015.
EFCIL · price
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EFC (I) Limited disclosed that M/s. Nikhil Warankar & Co. resigned as statutory auditors of EFC Limited (a wholly owned material subsidiary) effective April 24, 2026. The resignation was mandatory due to an ICAI announcement dated January 22, 2025, requiring statutory audits for FY 2025-26 to be conducted only by Peer Reviewed Firms. Since Nikhil Warankar & Co. is not peer-reviewed, they became ineligible. The previous auditors were appointed on September 30, 2022, for a 5-year term ending FY 2026-27, and their last audit report was for FY ended March 31, 2025. The Board and shareholders have approved M/s. SKAND & Co. (FRN: 132898W), a Peer Reviewed firm registered with ICAI since 2011, as the replacement auditor to fill the casual vacancy.
This is a routine regulatory compliance change with no financial or operational impact. The subsidiary has promptly appointed a qualified peer-reviewed auditor, ensuring continuity of audit services without disruption to shareholders.