M/s MKRJ & Co, has resigned as the Statutory Auditor of the Company due to the change in management.
Awaiting price reaction for this filing.
In a single board meeting on 22 August 2025, Omansh Enterprises announced a sweeping change in management. The existing statutory auditor, M/s MKRJ & Co, resigned mid-term citing 'change in management,' and Singhi Chugh & Kumar was appointed to fill the vacancy. The board appointed four new Independent Directors (Krishan Kumar Jalan, Sudesh Gupta, Jyoti Gupta, Parvesh Gupta) and four Executive Directors (Avnish Jindal as Whole-Time Director, plus Piyush Gupta, Nilesh Jindal, and Purshottam Kumar Gupta). The new Executive Directors are noted to be related to each other, pointing to a new family/promoter group taking control. The board also approved a proposed name change to 'Pipan Enterprises Limited' or 'Pipan Oils Limited,' borrowing capacity of up to ₹300 crores, new bank accounts, and a wholly owned subsidiary in the UAE.
This looks like a near-complete change of control with a new promoter group installing its own executive team and rebranding the company. Shareholders should watch for the ensuing general meeting for shareholder approvals and assess the new management's track record, since the ₹300 crore debt raise under untested leadership materially raises business and governance risk.