Statutory Auditor Maak and Associates resigns effective 18 Aug 2026

Auditor Resigned MidtermManagement Changes View source PDF Explain this filing

Price

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Price reactionminutes from the announcement price · days from the prior close

-7.3%Reaction day

₹14.13

prior close

₹13.44

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.4%-7.7% vs market

Other Financial Services peers, median of 91sector+0.0%-7.3% vs sector

On the reaction day the stock moved 7.7 pts less than Nifty Microcap 250 and 7.3 pts less than its Other Financial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-7.3+0.4-7.7+0.0-7.3

Next day

-8.0-0.2-7.8-0.1-7.9

-12.6+0.3-12.9-0.1-12.5

-9.1+0.6-9.7+0.0-9.1

-13.7+0.8-14.5-0.6-13.0

-10.6+0.4-11.0-0.2-10.5

-9.8+0.7-10.5-0.6-9.2

15d

-12.3+2.0-14.3-1.8-10.5

-12.6+0.7-13.3-2.5-10.1

-12.7-3.4-9.4-5.3-7.5

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UpDownMarket · Nifty Microcap 250Sector · Other Financial Services peers, median of 91Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Statutory auditor M/s. Maak and Associates (FRN 135024W) resigned with immediate effect on 18 Aug 2026. They were appointed on 25 Sep 2025 with a term running until 24 Sep 2030, making this a midterm exit. Reason cited is pre-occupations with other professional assignments and time constraints. The auditor confirmed there are no concerns, disagreements, qualifications, or issues with management, financials, accounting practices, internal controls, or compliance. Last report submitted was a limited review for Q1 FY27 on 12 Aug 2026.

Likely market impact

Midterm auditor exit may prompt brief governance questions. Company must appoint a new auditor soon. No concerns flagged by the resigning auditor is a reassuring sign.