Laxmi Cotspin Limited has informed the Exchange regarding Resignation of M/s. DMKH & Co., Statutory Auditor as Other of the company w.e.f. May 25, 2026.
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DMKH & Co., Chartered Accountants, has resigned as the statutory auditor of Laxmi Cotspin Limited, effective May 25, 2026. The firm served for four years from FY 2022-23 to FY 2025-26, with their term originally scheduled to end at the 22nd AGM in 2027. The stated reason is "other occupancy and commitments" rather than any dispute or concern. The auditor completed and issued their audit report for FY 2025-26 and limited review for Q4 FY2026 on May 22, 2026, just before resigning. The company has not disclosed any material reasons for the departure and will need to appoint a replacement auditor through its board.
The mid-term resignation creates a vacancy that requires the board to appoint a new auditor, a process that typically needs shareholder approval. While the outgoing auditor has fulfilled their latest obligations, such transitions can raise questions about the company's financial reporting timeline and auditor relationship stability.