Appointment of M/s P K N & Co. (FRN: 137148W) as Statutory Auditors of the Company to fill Casual Vacancy
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Jay Ambe Supermarkets Ltd's board, at its meeting on November 10, 2025, approved the appointment of M/s P K N & Co. (FRN: 137148W), Chartered Accountants based in Ahmedabad, as the new Statutory Auditors of the company. This appointment is to fill the casual vacancy caused by the resignation of the previous auditor, M/s Jay M. Shah & Co. (FRN: 137295W), effective November 7, 2025. P K N & Co. is a peer review-certified firm established in 2020, already serving as statutory auditor for other listed companies, and the appointment is subject to shareholder approval at the next general meeting. Additionally, the company reconstituted its Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee, with Mr. Tanmay Rajendrakumar Mehta taking over as Chairperson of all three committees, replacing Ms. Poonam Panchal.
The midterm auditor change is a governance event investors should monitor; while a casual vacancy appointment is routine, the reason for the prior auditor's resignation is not disclosed and may warrant attention. The committee reconstitutions consolidate chairperson roles under one director, which investors may view as a concentration of committee influence.