OSWAL GREENTECH LIMITED has informed the Exchange about Resignation of Statutory Auditor
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Oswal Greentech Limited's statutory auditor, Oswal Sunil & Company (FRN: 016520N), resigned on August 7, 2025, about three years before completing its five-year term. The auditor had originally been appointed in September 2022 and was scheduled to serve until the 45th AGM in 2027. The reason given for stepping down is purely financial — the firm had requested a revision of its audit fees for FY 2025-26 in a letter dated May 20, 2025, and the Audit Committee discussed it on May 21, 2025, but the company did not revise the compensation. The auditor has confirmed there are no disputes, no concerns about information suppression by management, and no material reasons other than the fee issue. The firm had already issued its limited review report for the quarter ended June 30, 2025.
While any mid-term auditor exit can raise questions, the stated reason here is a fee disagreement rather than a governance or accounting red flag, which is relatively benign. However, shareholders should watch for the appointment of a replacement auditor within the regulatory timeline and any further disclosures, as mid-term auditor changes are closely scrutinised by the market.