LCC Infotech Limited has informed the Exchange regarding Resignation of resignation of statutory auditor Budhia & Co of the company w.e.f. July 24, 2025.
LCCINFOTEC · price
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M/s Budhia & Co, Chartered Accountants (FRN: 320163E), has resigned as the Statutory Auditor of LCC Infotech Limited with effect from July 24, 2025. The auditor cited pre-occupation in other assignments as the reason, stating they were unable to devote sufficient time to the company's affairs. Budhia & Co had been appointed on June 28, 2024, with a scheduled term until September 29, 2029, making this a midterm exit roughly 13 months into a 5-year term. They will, however, complete the limited review for Q1 FY26 (June 2025 quarter). Their last audit report was submitted on May 26, 2025, for FY 2024-25, and the resignation letter states no other material reasons beyond pre-occupation.
Midterm auditor resignations often raise governance concerns among retail investors, as the cited reason (pre-occupation) is routine but may signal underlying issues. Shareholders should watch for timely appointment of a replacement auditor and any unusual disclosures in upcoming financial results.