Resignation of Secretarial Auditor
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M/s Pavan Rathi & Associates, the Secretarial Auditor of Manraj Housing Finance Ltd since FY 2014-15, has resigned effective April 22, 2025. The reason for resignation is that the auditor is no longer eligible to continue as Secretarial Auditor for FY 2024-25 under new SEBI norms introduced via the Third Amendment Regulations, 2024 (effective December 31, 2024), which tightened eligibility rules for secretarial auditors of listed companies. The company has clarified that no governance concerns were raised by the outgoing auditor and there is no material reason behind the exit. The Board will appoint a new Secretarial Auditor in due course and inform the exchange.
This is a routine regulatory-driven change and not a governance red flag. Shareholders should expect a new Secretarial Auditor to be appointed soon; the development is unlikely to materially affect the stock price or operations.