RESIGNATION OF STATUORY AUDITORS OF THE COMPANY
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Pet Plastics Ltd informed the BSE that its statutory auditors, M/s. Maheshwari & Co., Chartered Accountants (Firm Registration No. 105834W), have resigned from the position with effect from 14th August 2025. The resignation was described as a mutual agreement between the Company and the auditors. Notably, the auditor had completed the audit for FY 2024-25 but had not yet commenced the audit for FY 2025-26. The firm raised no objections to the appointment of a new auditor and the Board recorded its appreciation for their services. The Board will now begin the process of appointing a new statutory auditor under the Companies Act, 2013 and SEBI LODR Regulations, and will inform the exchange in due course.
Auditor changes mid-tenure, even when amicable, can sometimes draw scrutiny from investors as they may signal underlying governance or operational concerns. However, since the resignation was by mutual consent and the outgoing auditor had no objections, the immediate impact on shareholders is likely limited. The key thing to watch is who gets appointed as the new auditor and whether any further clarifications emerge from management.