Pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015 read with clause 7A of Para A of Part A of Schedule III and SEBI Circular no-IR/CFD/CMDI/114/2019 dated October 18,2019, that ....
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The statutory auditor of Kay Power and Paper Ltd, M/s. R Y Kulkarni & Associates (FRN: 105437W), has resigned effective February 3, 2026. The auditor was originally appointed on September 23, 2024, for a 5-year term ending at the AGM in 2029, making this a mid-term exit about 3 years ahead of schedule. The reason cited is the expiry of the firm's Peer Review Certificate from ICAI, which is mandatory to continue auditing a listed entity, along with the proprietor's old age and health issues. The auditor confirmed there are no other material reasons, no concerns with management, and no information gaps. The last audit report was submitted on May 30, 2025, and a limited review report for the December 2025 quarter will still be issued.
Shareholders should note that the company will need to appoint a new statutory auditor soon, and the transition could create a brief period of uncertainty. However, since the resignation is due to a regulatory technicality (expired peer review) and personal health reasons, rather than any disagreement with the company, the impact on the stock or fundamentals is likely limited.