EFC (I) Limited has informed the Exchange about Resignation of Statutory Auditor
EFCIL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
EFC (I) Limited's statutory auditor, M/s. Nikhil Warankar & Co., has resigned effective April 24, 2026. The firm was appointed in September 2022 for a 5-year term till the AGM for FY 2026-27. The resignation came because Nikhil Warankar & Co. is not a Peer Reviewed Firm, which became a mandatory requirement from January 2025 for companies that have raised funds exceeding Rs. 50 crore from public, banks, or financial institutions. The company has appointed M/s. SKAND & Co. as the new statutory auditor. The outgoing auditor confirmed there are no other material reasons for the resignation and that no audit evidence issues were encountered.
The mid-term auditor change due to regulatory compliance requirements is routine and should not materially impact operations. However, investors should note that the company qualifies as one that has raised significant public funds, triggering higher audit standards.