Disclosure under regulation 30 of SEBI (LODR), 2015 regarding Resignation of Statutory Auditor.
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The statutory auditor of Abhijit Trading Company Ltd, M/s H K Chhabra & Co. (FRN: 010917N), has resigned with immediate effect from May 7, 2025. The auditor cited the company's inability to convene an Extraordinary General Meeting (EGM) within the prescribed time due to practical constraints, which affected timely ratification and statutory compliances under SEBI LODR Regulations. The auditor's term was scheduled to expire just five days later on May 12, 2025, and they confirmed no other material reasons for the resignation. The auditor will file Form ADT-3 with the Registrar of Companies (ROC) to formally record the resignation. No concerns were raised about management-imposed limitations or quality of financial information.
Shareholders should note this reflects a governance lapse, as the company failed to hold a timely EGM for auditor ratification, which is a basic SEBI compliance requirement. While the auditor's term was nearly ending, the immediate resignation could temporarily delay audit processes and may attract regulatory scrutiny from BSE and MCA. The company will need to appoint a new statutory auditor quickly to avoid any disruption in audit timelines.