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 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 scheduled to end after the AGM for FY 2026-27. The resignation is due to a regulatory requirement: as per ICAI's January 2025 announcement, entities that have raised funds exceeding Rs. 50 crore must have their statutory audit conducted by a Peer Reviewed Firm. Since Nikhil Warankar & Co. does not hold a Peer Review Certificate, they are statutorily ineligible to continue. The auditor confirmed there are no other material reasons for the resignation and the latest audit report was issued for FY 2024-25 in May 2025.
The company must appoint a new peer-reviewed audit firm to continue statutory audits for FY 2025-26. This is a procedural change due to regulatory compliance rather than a governance concern, but may cause a brief transition period in audit scheduling.