Resignation of Statutory Auditor
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Milestone Furniture Limited has informed BSE that its statutory auditor, M/s. S. Agrawal & Co., Chartered Accountants (FRN: 000808N), has resigned effective July 10, 2025. The auditor cited pre-occupation as the reason and stated they are unable to continue as statutory auditor from financial year 2024-25. The resignation was communicated to the company via email on July 11, 2025, and signed by Whole Time Director Mayank Rasiklal Kotadia. The company has disclosed the change under SEBI Listing Regulations but has not yet announced a replacement auditor.
A sudden mid-term auditor change citing 'pre-occupation' may raise governance concerns among investors. Shareholders should watch for timely appointment of a new auditor and any red flags in the upcoming FY24-25 audit, as gaps in audit continuity can affect financial reporting credibility.