Appointment of Secretarial Auditor
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board met on July 28, 2025 and approved multiple items. M/s JCA & Co. was appointed as Secretarial Auditor for a five-year term (FY 2025-26 to FY 2029-30), subject to shareholder approval. More notably, the statutory auditor M/s KPSJ & Associates LLP resigned mid-term, just about 10 months after being appointed in September 2024 for a 5-year term. KPSJ cited inability to continue due to time and resource constraints from other professional commitments. The audit committee confirmed the auditor raised no concerns about the company. M/s Rawka & Associates has been recommended as the new statutory auditor to fill the casual vacancy, pending shareholder approval. The 7th AGM is scheduled for August 21, 2025.
The mid-term exit of a statutory auditor so soon after appointment is a minor red flag worth monitoring, even though the reason given is a capacity issue on the auditor's side rather than any dispute with the company. The quick appointment of a replacement and the absence of any raised concerns limits the negative impact, but retail investors should watch the new auditor's first report for any changes in audit quality or qualifications.