Outcome of the meeting of Board of Directors held on July 25, 2025 has been attached herewith.
Awaiting price reaction for this filing.
PAE Ltd's board met on July 25, 2025 and approved three key items. First, M/S J M Patel & Bros was appointed as the new Statutory Auditor for a 5-year term (FY2025-26 to FY2029-30), replacing M/s G.P. Kapadia & Co. whose term had ended. The new statutory auditor is led by CA J.M. Patel, a fellow ICAI member with over 48 years of experience in audit and assurance. Second, M/S Kamlesh M. Shah was appointed as the new Secretarial Auditor for the same 5-year period, replacing M/s J V Wadhwani & Associates after their term ended; he brings 32 years of experience and currently serves 15 listed companies. Third, the board adopted a new Grievance Redressal Policy as recommended by the Stakeholder Relationship Committee. Both auditor changes are routine term-end rotations and require shareholder approval at the upcoming AGM.
This is a routine governance update with no material financial impact for shareholders. The auditor changes are standard term completions, not mid-term resignations, and both new auditors have strong credentials. The new Grievance Redressal Policy is a positive governance enhancement for investor complaint handling.