Intimation for Resignation of Statutory Auditor of the company.
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Parshwanath Corporation Ltd has informed the BSE that its statutory auditor, SGDG & Associates LLP (FRN: W100188), has resigned with immediate effect on June 6, 2025. The auditor cited that the current fee arrangements do not adequately reflect the time, effort, and professional responsibilities involved in the audit work. The auditor had been appointed on September 29, 2023, and their term was originally scheduled to run until the 42nd Annual General Meeting for FY 2027-28, making this a mid-term exit. The latest audit report for FY 2024-25 was already submitted on May 8, 2025, and no concerns, management-imposed limitations, or governance issues were flagged in the resignation disclosure.
This is a mid-term auditor resignation driven by fee disagreements rather than governance concerns, which is generally less alarming than resignations citing fraud or management issues. However, shareholders should watch for timely appointment of a new auditor and any unusual audit qualifications in upcoming results, as frequent auditor changes can sometimes raise red flags.