LIBAS CONSUMER PRODUCTS LIMITED has informed the Exchange about Resignation of Statutory Auditor
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Choudhary Choudhary & Co., Chartered Accountants, has resigned as the Statutory Auditor of Libas Consumer Products Limited, effective from the close of business hours on August 14, 2025. The firm was originally appointed at the 18th AGM on September 23, 2023, for a 5-year term that was due to end at the 23rd AGM in 2027, making this a mid-term exit roughly 2 years early. The reason cited is 'other existing professional obligations and time constraints,' with no concerns, disputes, or issues with management or the Audit Committee reported. The outgoing auditor will still issue the limited review report for the quarter ended June 30, 2025, and will file the required Form ADT-3 with the Registrar of Companies. The company will now need to appoint a new statutory auditor in due course.
This is a mid-term auditor change without any governance red flags or disagreements with management disclosed, which is mildly reassuring for shareholders. However, retail investors should watch for the appointment of a new auditor, as frequent or unexplained auditor changes can sometimes raise questions about a company.