Intimation for Resignation of Internal Auditor
Awaiting price reaction for this filing.
Grand Foundry Ltd has informed the exchanges that both its Statutory Auditor (M/s Ashwani & Associates) and Internal Auditor (M/s Ajay Kanjhlia & Associates) resigned on 6 January 2026, effective immediately. Both resignations were tendered mid-way through FY 2025-26, with the stated reason being pre-occupation with other professional assignments. Notably, the Internal Auditor explicitly stated that during its tenure it did not observe any matters requiring disclosure or reporting to the Board under the Companies Act, 2013. The company has yet to announce replacements for either role. The simultaneous exit of both auditors on the same day is unusual and may draw scrutiny from investors.
The back-to-back resignation of both statutory and internal auditors mid-financial-year is a potential governance red flag and could weigh negatively on investor sentiment. Shareholders should watch for timely appointment of replacement auditors and any subsequent disclosures, as the company currently has no auditors in place for FY 2025-26.