Recommendation of PGS & Associates, Chartered Accountants to be appointed as Statutory Auditors for a term of 5 years subject to Members Approval.
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The Board of Lake Shore Realty Ltd (formerly Mahaan Foods Limited), at its meeting on 29th August 2025, approved the recommendation of M/s PGS & Associates, Chartered Accountants (FRN: 122384W) as the new Statutory Auditors for a 5-year term, from the conclusion of the 38th AGM to the 43rd AGM. This is in place of the retiring auditors M/s R C Sharma & Associates, whose term expires at the upcoming 38th AGM, and is subject to shareholder approval. PGS & Associates, founded in 1979, is led by 4 partners with over 95 years of combined experience including Big 4 background. The Board also appointed CS Dipti Zaveri, Practicing Company Secretary (COP: 12575), as Secretarial Auditor for FY 2025-26.
This is a routine auditor rotation at the end of the existing auditor's term rather than a mid-term resignation, so it is unlikely to have any material impact on the stock price. The new auditors bring strong credentials including Big 4 experience, which is positive for governance standards.