Appointment of Statutory Auditors of the Company
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The board approved the appointment of M/s. N K Mittal & Associates, Chartered Accountants (FRN 113281W), as the new Statutory Auditor of the company for FY 2025-26. This appointment fills a casual vacancy caused by the resignation of the previous auditor, M/s. Maheshwari & Co. (FRN 105834W). The new appointment is subject to shareholder approval at an upcoming Extraordinary General Meeting (EOGM). The board also approved a scrutinizer for the EOGM e-voting process, the EOGM notice, closure of the register of members, and a cut-off date for e-voting eligibility. The document does not disclose the reason for the previous auditor's resignation.
This is a mid-term auditor change, which investors should watch as sudden auditor switches can sometimes raise governance questions. The company has not explained why M/s. Maheshwari & Co. resigned, so shareholders may want clarity on this at the EOGM before approving the new auditor.