Announcement under Regulation 30(LODR) - Appointment of Statutory Auditor
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Gravity India Ltd has informed the stock exchange that its Board of Directors, at a meeting held on January 8, 2026, approved the appointment of M/s. AVKAS & Co., Chartered Accountants (FRN: 155352W) as the new Statutory Auditor. This appointment fills a casual vacancy caused by the resignation of the previous auditor, M/s. DDM & Associates (FRN: 133446W). AVKAS & Co. will serve from January 8, 2026 until the conclusion of the next Annual General Meeting (39th AGM). The Board has also recommended the same firm for a full 5-year term covering FY 2025-26 to FY 2029-30, from the conclusion of the 39th AGM to the 44th AGM. Both appointments are subject to shareholder approval at the upcoming AGM. The new auditor is described as having the requisite professional competence, experience, and infrastructure to conduct statutory audits under the Companies Act, 2013.
The midterm resignation of the previous auditor and its replacement is a routine corporate governance event, but investors may want to monitor the reasons behind the prior auditor's exit. The long 5-year reappointment of AVKAS & Co. provides audit continuity, which is generally a positive signal for governance stability.