Intimation regarding resignation of the Statutory Auditor of the Company.
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M/s. Jayesh Sanghrajka & Co LLP, Chartered Accountants, has resigned as the statutory auditor of Organic Recycling Systems Ltd with effect from May 15, 2025, ahead of the end of their 5-year term (which was scheduled to run until the 2026 AGM). The auditor cited commercially unviable audit fees relative to the increased professional effort required for auditing a listed company as the reason for stepping down. The auditor confirmed there are no concerns about the company's management and had already completed the statutory audit for FY ended March 31, 2025 before resigning. The Audit Committee and Board will appoint a new statutory auditor in due course to fill the casual vacancy.
This is a routine, fee-driven auditor exit with no governance red flags — the outgoing auditor explicitly cleared the management of any concerns. However, the mid-term departure may cause short-term uncertainty, and shareholders should watch for timely appointment of a replacement auditor to avoid any audit gaps.