Please find attached herewith the Outcome of Board Meeting dated: 07th May, 2025 with respect to Resignation of M/s Nagar & Krishna & Associates from the post of Internal Auditor and Appointment ....
Awaiting price reaction for this filing.
JMG Corporation's Board met on 7th May 2025 and accepted the resignation of M/s Nagar Krishna & Associates as the company's Internal Auditor, effective immediately, citing pre-occupation in other assignments. In the same meeting, the Board appointed M/s Shyam Amitesh & Co, Chartered Accountants, as the new Internal Auditor for a five-year term covering FY2024–25 to FY2029–30. The new audit firm has 15+ years of experience in audit, taxation, compliance, valuation, and advisory services. The Audit Committee recommended the appointment.
This is a routine internal auditor change with no governance red flags, as the outgoing firm stepped down due to workload constraints rather than any dispute. Shareholders should not read this as negative; a longer 5-year tenure provides continuity in internal audit oversight.