Outcome of Board Meeting
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Awaiting price reaction for this filing.
Padam Cotton Yarns Ltd's Board of Directors, at a meeting held on June 30, 2025, approved the appointment of M/s. SVJK & Associates, Chartered Accountants (FRN: 135182W), Ahmedabad as the new Statutory Auditor of the Company. This appointment is effective from June 30, 2025, for FY 2025-26, subject to shareholder approval. The new auditor fills a casual vacancy caused by the resignation of the previous auditor, Vinay Goel & Associates & Co. (FRN: 012188N). SVJK & Associates, established in 2012, is a peer-reviewed firm with experience in auditing, taxation, and corporate laws, and will hold office until the conclusion of the next AGM.
This is a mid-term auditor change, which shareholders should note. Sudden auditor resignations can sometimes signal underlying financial or governance concerns, so investors may want to watch for any forthcoming filings or commentary explaining the reason for the prior auditor's exit.