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The board of Jay Ambe Supermarkets held a meeting on November 10, 2025 and approved two key changes. First, it accepted the resignation of M/s. Jay M. Shah & Co. (FRN: 137295W) as Statutory Auditors, effective November 7, 2025, creating a casual vacancy. Second, it appointed M/s. P K N & Co. (FRN: 137148W), an Ahmedabad-based peer-reviewed firm established in 2020, as the new Statutory Auditors to fill that vacancy, subject to shareholder approval. The board also reconstituted three committees — Audit, Nomination & Remuneration, and Stakeholders Relationship — with Mr. Tanmay Rajendrakumar Mehta taking over as Chairperson of all three, replacing Ms. Poonam Panchal who continues as a member. The meeting ran from 5:30 PM to 6:00 PM.
The sudden change of statutory auditor mid-term and the broad committee reshuffle may raise governance questions among investors, though the new auditor is a peer-reviewed firm with listed-company experience. Shareholders should watch for the general meeting approval and any further disclosure on why the previous auditor stepped down.