M/s CSM & Co. LLP, statutory Auditor of the company has resigned w.e.f. 21st August, 2025. The details of the resignation has been attached herewith.
Awaiting price reaction for this filing.
KDJ Holidayscapes and Resorts Ltd informed BSE that its statutory auditor M/s CSM & Co. LLP resigned with effect from August 21, 2025, citing health reasons. The auditor had been appointed only on June 7, 2025 and had not issued any audit report before stepping down. The Board has appointed M/s DD Shah Patel & Co (FRN: 153136W) as the new statutory auditor for two five-year terms covering FY 2019-20 to FY 2023-24 and FY 2024-25 to FY 2028-29, subject to shareholder approval. The clarification letter reveals that the company recently emerged from a Corporate Insolvency Resolution Process (CIRP), which ended in March 2025 per an NCLT order, and the audit backlogs from the CIRP period are now being addressed. No concerns or qualifications were flagged by the resigning auditor.
The auditor change appears procedural and health-driven, with no governance red flags raised by the outgoing auditor. Investors should note the company's CIRP background and the fact that multi-year audits are being completed late, which may delay clarity on historical financials.