Grand Foundry Limited has informed the Exchange regarding ''. Intimation of Resignation of Statutory Auditors & Internal Auditors
Awaiting price reaction for this filing.
Grand Foundry Limited has informed the stock exchanges that both its Statutory Auditors (M/s Ashwani & Associates) and Internal Auditors (M/s Ajay Kanjhlia & Associates) have resigned, effective from the close of business hours on 6th January 2026. Both audit firms cited pre-occupation with other assignments and other professional commitments as the reason for stepping down. The resignations come mid-way through the financial year 2025-26 for which they were originally appointed. Notably, both firms stated that during their tenure they did not observe any matters requiring reporting or disclosure to the Board. The company has not yet announced replacements for either role, which means the company currently has no statutory or internal auditors in place heading into the rest of FY 2025-26.
Simultaneous resignation of both statutory and internal auditors mid-financial-year is a red flag that may raise governance concerns among investors and could put short-term pressure on the stock. The company now needs to urgently appoint replacement auditors, and any delay could create compliance and reporting issues for upcoming results.