Statutory Auditor resigns over fee disagreement

Auditor Resigned MidtermManagement Changes View source PDF Explain this filing

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AI summary

Statutory auditor Dhiren H Pandya and Associates LLP resigned effective August 14, 2026, mid-term (appointed May 2024, term ran till 2029 AGM). Reason: disagreement on audit fee revision for FY27 after the BSE listing expanded audit scope. The Audit Committee declined the fee hike. The auditor confirmed no other concerns, no management disputes, and no audit quality issues. The company must now appoint a replacement auditor.

Likely market impact

Mid-term auditor exit is a fee dispute, not a governance red flag, but the company must appoint a new auditor quickly to avoid compliance gaps.