Intimation of Appointment of Statutory Auditor of the Company, Subject to Approval by Shareholder at the ensuring AGM.
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Nanavati Ventures Ltd's Board has approved the appointment of M/s. Vaghasia & Lakhani LLP, Chartered Accountants, as the new Statutory Auditor of the company for a 5-year term. The appointment is subject to shareholder approval at the upcoming Annual General Meeting and will cover the period from the conclusion of the 15th AGM to the conclusion of the 20th AGM in 2030. The new auditor is a Rajkot-based firm with branches in Morbi and Junagadh, offering audit, tax, and advisory services. The change is being made to comply with the Companies Act, 2013 and SEBI listing requirements, which suggests the previous auditor's term has ended and a new appointment is due.
This is a routine, compliance-driven appointment of a new statutory auditor for a fresh 5-year term and is unlikely to have any material impact on the stock price or shareholder value. Investors should note that the appointment still requires shareholder approval at the AGM before it becomes effective.