Gangotri Textiles Limited has informed the Exchange regarding 'Resignation Of Statutory Auditor'.
Awaiting price reaction for this filing.
Gangotri Textiles Limited has informed the stock exchange that its Statutory Auditor, M/s. Mohanraj & Sankar, Chartered Accountants (led by partner T.M. Mohanraj), has resigned effective close of business hours on May 14, 2025. The auditor had been appointed for a 5-year term covering FY 2024-25 to FY 2028-29, making this a midterm exit within the first year. The stated reason is pre-occupation with other professional assignments, leaving them unable to dedicate adequate time to the company. Importantly, the auditor had already issued the Audit Report and Limited Review Report for Q4 and FY ended March 31, 2025 just two days before resigning on May 12, 2025. The auditor confirmed there are no other material reasons, no concerns with management, and all information sought during the audit was provided.
The resignation appears largely routine — the auditor completed the latest annual audit and limited review just before stepping down, and cited workload reasons rather than any dispute or governance concern. Shareholders should note that the company will need to appoint a new statutory auditor to fill the remaining term through FY 2028-29, but the immediate financial reporting risk looks low.