Resignation of Statutory Auditor
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The statutory auditor of Pearl Green Clubs and Resorts Ltd, M/s KPSJ & Associates LLP, resigned on July 28, 2025, roughly 10 months into a five-year term that was originally scheduled to run until 2029. According to the resignation letter, the firm stepped down citing increased commitments at other clients that demanded substantial time and resources, making it unable to dedicate the attention required for the audit. Importantly, the auditor confirmed it had already completed the FY25 audit (report dated May 28, 2025) and flagged no concerns, qualifications, or disputes with the management or audit committee. To fill the casual vacancy, the Board has recommended appointing M/s Rawka & Associates, Chartered Accountants (Indore-based firm), subject to shareholder approval at the upcoming AGM on August 21, 2025. The Board also separately appointed M/s JCA & Co. as Secretarial Auditor for a five-year term starting FY26.
The auditor resignation is a routine mid-term change driven by the auditor's own capacity constraints rather than any governance red flags, since KPSJ explicitly raised no concerns. The quick appointment of a replacement should avoid any audit disruption for shareholders. Investors should watch the AGM on August 21, 2025 for the shareholder approval vote on the new statutory auditor.