Announcement under Regulation 30 (LODR) - Resignation of Statutory and Tax Auditor.
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PG Foils Ltd has informed the stock exchange that its Statutory and Tax Auditor, M/s Gupta Akash & Associates, Chartered Accountants (FRN: 013783C), has resigned with effect from 03rd June 2025. The auditor cited unforeseen medical circumstances requiring immediate and sustained attention as the reason for stepping down, and also noted that the other partner in their firm was never associated with this audit engagement since inception. The outgoing auditor confirmed that statutory audits for Q2 and Q3 of the current financial year were completed, with no unresolved matters or disagreements with management or the Audit Committee, and no qualifications in their audit reports. The company will need to appoint a new auditor in due course.
This is a mid-term auditor exit which may temporarily create governance uncertainty and require the company to appoint a replacement statutory and tax auditor soon. For shareholders, the absence of any qualifications, disagreements, or audit-related red flags in the resignation letter is a reassuring sign, though future filings should be watched for disclosure of the new auditor appointment.