Libas Consumer Products Limited has informed the Exchange regarding Change in Auditors of the company.
LIBAS · price
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M/s Choudhary Choudhary & Co, Chartered Accountants (FRN: 002910C) has resigned as the statutory auditor of Libas Consumer Products Limited, effective from the close of business hours on August 14, 2025. The auditor cited other professional obligations and time constraints as the reason, with their resignation letter dated August 6, 2025. The auditor had originally been appointed at the 18th Annual General Meeting for a 5-year term extending to the 23rd AGM in 2027, making this a midterm exit. Importantly, no concerns about the company's management were raised, and the auditor confirmed they will still issue the limited review report for the quarter ended June 30, 2025 within the statutory timeline. The Audit Committee and Board will appoint a new statutory auditor to fill the resulting casual vacancy in due course.
This is a routine, non-confrontational auditor change with no governance red flags — the auditor explicitly stated no concerns about management. Shareholders should expect a new auditor appointment announcement soon, but this is unlikely to have a meaningful impact on the stock price given the clean circumstances of the exit.