Disclosure Under regulation 30 of SEBI(LODR), 2015 regarding the Resignation of Statutory Auditor "N K bhat & Associaates" w.e.f 21/05/2025.
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Grand Oak Canyons Distillery Ltd informed BSE that its Statutory Auditor, M/s N K Bhat & Associates (FRN 011556N), has resigned from the position with effect from May 21, 2025. Notably, the auditor had been appointed only on May 13, 2025, meaning the tenure lasted barely 8 days, though their term was scheduled to run until August 12, 2025. The auditor cited continuing health issues as the reason for not being able to accept the appointment. The company confirmed there were no prior concerns raised by the auditor, no management-imposed limitations, and no material facts beyond the health-related reason. The last audit report was submitted on February 14, 2025, presumably by a prior auditor. The company has not yet disclosed who will replace N K Bhat & Associates as Statutory Auditor.
The resignation happened almost immediately after appointment due to personal health reasons and not due to any audit-related disagreements or governance issues, which limits negative implications. However, investors should watch for timely appointment of a new auditor, as the company currently lacks a statutory auditor and any delay could affect compliance and audit timelines.