Modi Naturals Limited has informed the Exchange regarding Change in Auditors of the company.
MODINATUR · price
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Modi Naturals Limited has announced a change in its statutory auditors. M/s Doogar & Associates (FRN: 000561N), who were appointed in September 2023 for a 5-year term until the 54th AGM, tendered their resignation effective 13th May 2026. The firm cited increased workload from new assignments as the reason for their inability to continue. The Board has approved the appointment of M/s B. Chhawchharia & Co. (FRN: 305123E) to fill the casual vacancy, effective the same date, subject to shareholder approval at the ensuing General Meeting. The new auditor already serves as the Statutory Auditor of Modi Biotech Private Limited, a material subsidiary of the company.
The mid-term resignation of auditors may raise governance concerns among investors. However, immediate appointment of a replacement from the same group as the material subsidiary auditor suggests operational continuity and alignment across the group.