ENCLOSED HEREWITH DISCLOURE UNDER REG 30 OF SEBI (LODR) 2015
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Oxford Industries' board, meeting on July 10, 2025, approved a bundle of changes: appointed Mr. Saroj Kumar Choudhury (DIN: 1143083) as an additional Executive Managing Director for 3 years, and Ms. Iranee Tripathy (DIN: 10311352) as an additional Non-Executive Independent Director for 5 years. The board also appointed a new Secretarial Auditor (M/s Suprabhat & Co.) for FY 2025-26 to 2027-28. Mid-term, statutory auditor M/s RANK & Associates resigned on July 10, 2025 — three years before its 5-year term was to end in March 2027 — citing 'Appointment of different Audit firm by the management.' M/s PAMS & Associates was appointed as the new statutory auditor for a 5-year term. Additionally, the board approved the disinvestment of its subsidiary M/s Tampa Enterprise Private Limited.
The mid-term statutory auditor exit, alongside multiple board-level changes and a subsidiary divestment in one sitting, may raise governance concerns for retail investors. The change in auditors mid-tenure is an unusual event worth monitoring, as it could affect audit continuity. The subsidiary disinvestment could also impact consolidated financials.