Announced Mon, 27 Jul · 19:02 IST
Statutory auditor resigns over fee dispute; new auditor appointed
Price
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Price reaction · full curve
Awaiting price reaction for this filing.
AI summary
Padam Cotton Yarns' statutory auditor SVJK and Associates resigned on July 27, 2026, stating that existing audit fees were not commensurate with the time and effort required given the company's growing scale. SVJK had completed the FY26 audit on May 30, 2026. Piyush Kothari and Associates has been appointed to fill the casual vacancy for FY27, subject to shareholder approval.
Likely market impact
Auditor change is fee-driven, not governance-driven. FY26 audit was completed. Smooth transition expected, but shareholder approval still pending.