Board has approved the Appointment of M/s Jain P C & Associates, Chartered Accountants Ahmedabad as Statutory Auditor of the company
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PG Foils Ltd's statutory auditor M/s Gupta Akash & Associates resigned on June 3, 2025, citing unforeseen medical circumstances requiring immediate attention, along with the fact that the other partner of the firm was not involved in the audit since inception. The auditor had been appointed on September 27, 2024 with a term running until the 2029 AGM, so this is a midterm exit. The last report submitted was a limited review for the December 2024 quarter, filed on February 13, 2025, with no concerns flagged. To fill the casual vacancy, the Board approved M/s Jain P.C. & Associates (FRN:126313W), an Ahmedabad-based ICAI peer-reviewed firm with 2 partners, effective June 6, 2025, subject to shareholder approval.
For shareholders, this is a routine auditor change driven by personal health reasons rather than any audit or governance concerns, so it is unlikely to materially affect the stock. The new auditor is a peer-reviewed firm and the appointment still needs shareholder ratification at the next AGM.