Please be informed that C A S & Co. Statutory Auditor of the Company has resigned as statutory auditor of the company with immediate effect stating the reason of pre-occupation with other ....
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IndiaNivesh Limited informed the stock exchange that M/s. C A S & Co., Chartered Accountants (FRN: 111075W), has resigned as the company's Statutory Auditor with immediate effect on 5th September 2025. The auditor cited two reasons: pre-occupation with other professional commitments and the proposed audit fee being lower than their expectations. The auditor was originally appointed on 30th September 2024 at the 93rd AGM, with their term scheduled to run until the AGM in F.Y. 2029-2030, making this a midterm resignation. The auditor had already submitted the audit report for FY ending 31st March 2025 on 28th May 2025, and confirmed there are no other material reasons beyond those stated.
Shareholders may view this as a mildly negative governance signal, as a statutory auditor stepping down mid-tenure citing inadequate fees could raise questions about audit quality or fee discipline. The company will need to appoint a new statutory auditor promptly to ensure continued regulatory compliance.