Outcome of the meeting of the Board of Directors held on Thursday, May 15, 2025
Awaiting price reaction for this filing.
Satiate Agri Ltd held a board meeting on May 15, 2025, where it accepted the resignation of statutory auditor M/s. A A A M & CO LLP, effective the same day. The resignation is due to a merger/demerger of the signing partner's firm (CA Mohit Jain's M/s Mohit Yogesh Jain & Co.) with another audit firm, with the same signing partner continuing in the role. The resigning auditor raised no concerns about management, audit evidence, or the company's financial statements; their last submitted report was the limited review for Q3 FY25 (quarter ended December 31, 2024). To fill the casual vacancy, the board appointed M/s. D.G.M.S & Co. (FRN: 0112187W), based in Jamnagar, as the new statutory auditor, to hold office until the 2025 AGM.
This is effectively a procedural change at the audit-firm level rather than a red flag — the same signing partner continues, and the outgoing auditor flagged no concerns about the company's books. Shareholders should note that a mid-year auditor switch still warrants attention to future audit opinions, but there are no immediate negative signals from this disclosure.