Re-appointment of Internal Auditor & Cost Auditor F.Y. 2026-27 and Management clarification letter for resignation of Company Secretary & Compliance Officer along with resignation letter, ....
MADHAVIPL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The Board of Directors of Madhav Infra Projects Ltd met on May 29, 2026 and approved the audited financial results for Q4 and year ended March 31, 2026. The Board re-appointed M/s JHS and Associates LLP as Internal Auditor and M/s Kiran J Mehta & Co. as Cost Auditor for F.Y. 2026-27. More significantly, the Board accepted the resignation of Ms. Khushbu Prajapati as Company Secretary and Compliance Officer (Key Managerial Personnel) effective May 12, 2026. The resignation followed a dispute over salary deductions for leave taken for her wedding, which she claimed was unjustified despite prior approvals. The company clarified that the deductions were proper as her leave balance was insufficient, making the excess leave 'Leave Without Pay' under company policy.
The resignation of a Key Managerial Personnel due to a salary dispute may raise governance concerns for investors, though the company has provided a clarification. The re-appointment of both auditors indicates continuity in audit functions.