ENCLOSED HEREWITH INTIMATION OF RESIGNATION OF STATUTORY AUDITOR UNDER REG 30 OF SEBI (LODR) 2015
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Oxford Industries Ltd has informed the BSE that its Statutory Auditor, M/s RANK & Associates Chartered Accountants (ICAI FRN: 105589W), resigned with effect from 10th July 2025. The auditor had been appointed for a five-year term (FY 2022 to March 31, 2027) at the September 2022 AGM, meaning the resignation is happening roughly two and a half years before the term was due to end. The company states the reason is that management has decided to appoint a different audit firm. In the auditor's own letter, the firm references ongoing discussions on commercial terms of the audit, suggesting some friction before the decision. The new audit firm has not yet been named in this filing. The intimation is signed by Managing Director Mazher N Laila.
Auditor changes mid-term are a governance red flag for retail investors, even when driven by the company. Watch for the name of the incoming auditor and any reasons relating to accounting disagreements; frequent changes can dent investor confidence in financial reporting quality.