Intimation for appointment of Secretarial Auditor
Awaiting price reaction for this filing.
GB Global Ltd held a Board meeting on 29th May 2026 where several key decisions were taken. The Board approved the audited financial statements for Q4 and the year ended 31st March 2026. Key appointments were made including M/s. Himesh Pandya & Associates as Secretarial Auditor for a 5-year term from FY 2025-26 to FY 2029-30, Cost Auditor for FY 2026-27, and Internal Auditor for FY 2026-27. However, a significant concern is that the statutory auditors have issued audit reports with a modified opinion on the financial statements. The meeting lasted over 6 hours, concluding at 9:30 PM.
The modified audit opinion from statutory auditors is a serious red flag for investors as it indicates potential issues with the reliability of financial statements, which could negatively impact stock price and investor confidence.