KAMDHENU VENTURES LIMITED has informed the Exchange about Resignation of Statutory Auditor
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Kamdhenu Ventures Limited's statutory auditor, M.C. Bhandari & Co., has resigned with immediate effect on May 9, 2025. The auditor had requested a fee increase for FY2025-26 citing higher regulatory workload and rising costs, but the company declined, stating its current financial position does not permit a fee hike. The auditor decided the existing fees were insufficient to conduct an audit in line with ICAI Standards. Notably, the FY2025 audit had already been completed (report dated May 8, 2025). The same auditor also resigned from Kamdhenu Colour and Coatings Limited, the company's wholly-owned subsidiary. The auditor confirmed no other concerns, no management-imposed limitations, and no material reasons beyond the fee dispute.
This is a midterm resignation before the auditor's term was set to end in 2027, which may raise minor governance concerns among investors, though the reason is a commercial fee disagreement rather than a dispute over accounting or fraud. The company will need to appoint a new auditor, and shareholders should watch for any disclosure about the replacement and timeline.