Appointment of Statutory Auditors of the Company
MODINATUR · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Modi Naturals Ltd's statutory auditors, M/s Doogar & Associates, resigned effective 13th May 2026, citing they are engaged in new assignments requiring substantial time and resources, making it difficult to dedicate necessary attention to the audit responsibilities. The Board accepted this resignation and appointed M/s B. Chhawchharia & Co. as the new statutory auditor to fill the casual vacancy from the same date. The new auditor is also the statutory auditor of Modi Biotech Private Limited, a material subsidiary of the company, which the board expects will ensure better alignment and operational synergies. The appointment is subject to shareholder approval at the ensuing General Meeting.
The mid-term auditor change may cause minor concern among investors about continuity, though the stated reasons (firm's workload) appear operational rather than indicative of accounting concerns. The appointment of an auditor already connected to the group subsidiary suggests consistency in audit approach.