Madhav Copper Limited has informed the Exchange regarding Resignation of M/s Nirav Patel & Co. Chartered Accountants (FRN: 134617W) as a Statutory Auditor of the company w.e.f. July 23, 2025.
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Madhav Copper Limited's statutory auditor, M/s Nirav Patel & Co., Chartered Accountants (FRN: 134617W), resigned effective July 23, 2025, citing professional preoccupation and internal restructuring. The auditor was originally appointed on September 30, 2022, for a term running until the 2027 AGM, making this a mid-term exit roughly two years early. Importantly, the resigning auditor confirmed there are no concerns about the company's management and no material reason beyond the stated professional ones, and had already completed and submitted the FY25 audit report on May 27, 2025. The firm may seek reappointment under a new firm name in due course. The Audit Committee and Board will appoint a new statutory auditor to fill the casual vacancy.
This is a routine auditor change driven by the audit firm's own restructuring, not by any governance red flag. The existing auditor had no issues with the company's books or management, so shareholders are unlikely to see any negative stock reaction. Investors should watch for the announcement of the new statutory auditor appointment.