Intimation Regarding Resignation of Statutory Auditors with effect from May 06, 2026
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Kisan Mouldings Ltd has received the resignation of its Statutory Auditors, M/s. Sen & Ray, Chartered Accountants, effective from May 6, 2026. The auditors, who were appointed on September 30, 2022, with their term originally scheduled to expire at the AGM in 2027-28, cited "other commitments and other assignments" as the reason for their departure. The resignation follows the upcoming Board Meeting on May 5, 2026, after which the auditors will issue their audit report for the financial year ended March 31, 2026. The company has explicitly stated that there are no concerns raised by the resigning auditor and no material reasons for the resignation. The auditors confirmed that the resignation is solely due to their other professional commitments and no circumstances require shareholders' or creditors' attention.
The mid-term resignation of statutory auditors may raise concerns among investors about potential governance issues or audit quality. However, the explicit statement of 'no concerns' from the auditor and the planned completion of the FY2026 audit report provides some reassurance. Investors should monitor the appointment of new auditors and any subsequent audit opinions.