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Jay Ambe Supermarkets Ltd has informed the stock exchange that its Statutory Auditor, M/s Jay M. Shah & Co., has resigned with immediate effect on November 7, 2025. The auditor cited ineligibility under SEBI's Listing Regulations, as the firm has not undergone the mandatory peer review process conducted by the ICAI's Peer Review Board, which is required to issue audit reports for listed companies. The auditor was originally appointed on November 30, 2021, for a five-year term covering FY 2021-22 to FY 2025-26, meaning they are stepping down well before the end of their tenure. The last audit report submitted was for FY 2024-25 on July 25, 2025. The company will now need to appoint a new statutory auditor in compliance with applicable laws.
This is a procedural regulatory compliance matter — the auditor stepped down due to their own ineligibility, not due to any disagreement with the company. For shareholders, this means the company must find and appoint a new peer-reviewed auditor soon to avoid any disruption to its audit cycle. The resignation itself is unlikely to materially impact the stock price, though any delay in appointing a replacement auditor could become a concern.