Resignation of Statutory Auditor in Material Subsidiary
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Nimbus Projects Ltd informed BSE that M/s. Goyal Tarun & Associates, Chartered Accountants (FRN: 026112N), has resigned as Statutory Auditor of its material subsidiary, N.N. Financial Services Private Limited, effective June 9, 2025. The auditor cited pre-occupation and commitment to other professional assignments as the reason for stepping down. The auditor was originally appointed on September 29, 2021, with the term scheduled to expire at the 35th AGM in 2026, making this a mid-term exit. Importantly, the auditor confirmed there were no concerns, no communication issues with management or the Audit Committee, and no other material reasons behind the resignation.
This is a routine mid-term auditor change at the subsidiary level with no governance red flags — the auditor raised no concerns about management or financials, so near-term impact on the stock is expected to be minimal. Shareholders should watch for timely appointment of a new statutory auditor for N.N. Financial Services to ensure uninterrupted audit coverage.