Resignation of Statutory Auditor, Appointment of Statutory Auditor, Appointment of Secretarial Auditor & Approve Notice of AGM
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The board, at its July 28, 2025 meeting, accepted the resignation of statutory auditor M/s KPSJ & Associates LLP, who had been appointed in September 2024 for a five-year term. The outgoing auditor cited inability to continue due to time and resource constraints from other commitments, and confirmed they had no concerns about the company or its management. To fill the casual vacancy, the board appointed M/s Rawka & Associates, Chartered Accountants (Indore-based firm), to serve as statutory auditor until the next AGM, subject to shareholder approval. Separately, M/s JCA & Co., Company Secretaries was appointed as Secretarial Auditor for a five-year term from FY 2025-26 to FY 2029-30. The board also approved the notice for the 7th AGM scheduled for August 21, 2025 via video conferencing.
An auditor change mid-term is typically a yellow flag for investors, but in this case the resignation cites workload constraints rather than any dispute or audit concerns, and a replacement has already been lined up. Shareholders should watch for the AGM outcome and any future auditor-related disclosures for continuity in financial reporting.