Announced Mon, 27 Jul, 2026 · 19:04 IST

Statutory Auditor SVJK resigns; Piyush Kothari and Associates appointed

Auditor Resigned MidtermManagement Changes View source PDF Explain this filing

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prior close

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AI summary

Padam Cotton Yarns statutory auditor SVJK and Associates resigned effective July 27, 2026, citing a disagreement over audit fees. The auditor said existing fees were not commensurate with the time, effort, and professional resources needed given the company growing scale and rising complexity. SVJK had been appointed in June 2025 with term till September 2026, and had already issued the FY26 audit report on May 30, 2026. Piyush Kothari and Associates has been appointed to fill the casual vacancy for FY 2026-27, subject to shareholder approval.

Likely market impact

Midterm auditor exit over fee dispute may raise mild governance concerns; new auditor appointed pending shareholder approval at next AGM.