Announcement under Regulation 30(LODR)-Resignation of statutory auditor.
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Kimia Biosciences Ltd's statutory auditor M/s. Sunil Suresh & Associates (FRN: 011646N) resigned on April 22, 2025, less than a year after their appointment on June 28, 2024. The auditor cited commercial reasons, stating they were unable to recover a reasonable portion of their time cost. The Audit Committee and Board accepted the resignation and confirmed there were no concerns, governance issues, or disputes raised by the outgoing auditor. To fill the casual vacancy, the Board has recommended appointing M/s. Neeraj Arora & Associates (FRN: 021309N) as the new statutory auditor, subject to shareholder approval at the upcoming AGM. The new firm will audit FY 2024-25 and has been recommended for a five-year term until 2029.
This is a routine auditor change driven by fee/cost considerations rather than any governance or financial reporting concern. The outgoing auditor explicitly confirmed no issues with management or financial statements, so the resignation is unlikely to have a negative impact on the stock. Shareholders should approve the new auditor at the upcoming AGM.