Nupur Recyclers Limited has informed the Exchange regarding Change in Auditors of the company.
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The statutory auditor of Nupur Recyclers' material subsidiary Frank Metal Recyclers Limited, M/s A V A M S & Associates, has resigned with effect from August 13, 2025. The auditor's firm was originally appointed on September 30, 2022 for a five-year term ending at the 6th AGM for FY 2026-27, so this is a mid-term exit. The reason given is that the firm does not hold a Peer Review Certificate from ICAI, which is mandatory for auditing listed entities, and Frank Metal is in the process of listing via an IPO. The auditor explicitly confirmed there are no adverse circumstances connected with the resignation that shareholders should worry about. The latest report submitted was the unaudited results for Q1 FY26 (quarter ended June 30, 2025). Nupur Recyclers will need to appoint a new auditor holding a valid Peer Review Certificate for the subsidiary ahead of the IPO.
This is a procedural and expected change driven by regulatory eligibility rules as the subsidiary prepares for an IPO, not a governance red flag. Shareholders should watch for the appointment of a replacement peer-reviewed auditor, but no negative impact on the stock is implied.