Outcome of Board Meeting for resignation of Statutory Auditor of the Company attached herewith.
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Ontic Finserve Ltd's board, at a meeting held on 14th August 2025, accepted the resignation of M/s K M Chauhan & Associates as the company's Statutory Auditor. The outgoing auditor, appointed in September 2024 with a term running until the AGM for FY 2028-29, cited busy schedules and unavoidable personal circumstances. The latest audit report had been submitted just a day before the resignation on 13th August 2025, and no concerns or management limitations were flagged. The board appointed M/s Nirav S Shah & Co. as the new Statutory Auditor from 14th August 2025, subject to shareholder approval at the next EGM or AGM.
The change of statutory auditor mid-term is a routine governance event here, as no audit concerns were raised by the outgoing firm. Shareholders will need to approve the new auditor's appointment at the next general meeting, but there is no immediate negative signal for the stock from this disclosure.