Enclosed herewith Disclosure under Reg 30 of SEBI (LODR), Reg, 2015 relating to Unwillingness of Statutory Auditor to continue as Statutory Auditor of the Company
Awaiting price reaction for this filing.
Avi Products India Ltd has informed BSE that its statutory auditor, M/s. N K Jalan & Co (Chartered Accountants, FRN 104019W), has expressed unwillingness to continue as the company's statutory auditor. The auditor cited 'better professional engagement' as the reason for stepping down. N K Jalan & Co was originally appointed at the 31st Annual General Meeting held on 28 December 2020, with their term scheduled to run until the conclusion of the 36th AGM. Most recently, they had submitted the limited review report for the quarter ended 31 December 2025 on 12 February 2026. The auditor has confirmed there were no concerns with management, no management-imposed limitations, and no other material reasons behind the decision. The company has been asked not to place the connected appointment resolution at the upcoming Extraordinary General Meeting.
Shareholders should note that the auditor is stepping down mid-term, so the company will need to appoint a new statutory auditor soon. Since the reason given is a routine professional engagement opportunity and no governance or audit concerns were flagged, this is unlikely to have a material impact on the stock, but it adds a short period of uncertainty until a replacement is appointed.