Oswal Agro Mills Limited has informed the Exchange regarding Change in Auditors of the company.
OSWALAGRO · price
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Oswal Agro Mills Limited has informed the stock exchanges that M/s. Oswal Sunil & Company, Chartered Accountants (FRN: 016520N), has resigned as the company's Statutory Auditor with effect from August 7, 2025. The auditor, originally appointed at the 42nd AGM on September 28, 2022 for a 5-year term until the 47th AGM in 2027, resigned mid-term citing that the audit fees for FY 2025-26 were not commensurate with the scope of work and efforts required. The resigning auditor confirmed that they have no concerns or disputes with the company's management and that all requested information was provided. The Audit Committee and Board noted that no material concerns were raised and recorded their appreciation for the auditor's services. The company will need to file Form ADT-3 with the Registrar of Companies and appoint a new statutory auditor.
This is a mid-term auditor change driven purely by fee-related disagreements rather than any governance or financial reporting concerns, which should reassure shareholders. However, the company will need to appoint a new statutory auditor soon, and investors should watch for the appointment of a replacement auditor to ensure continuity of audit quality. No immediate impact on stock price is expected since the resignation is not due to any irregularities.