Resignation of Statutory Auditor of M/s Pankaj Gupta & Co. w.e.f. November 14, 2025
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M/s Pankaj Gupta & Co., Chartered Accountants (FRN: 019302N), has resigned as the statutory auditor of PMC Fincorp Ltd with effect from November 14, 2025. The auditor was originally appointed on August 10, 2022, and was scheduled to serve until the 42nd AGM in 2027, making this a mid-term exit. The reason cited is a fee dispute — the firm stated that audit effort and resources required for a listed company have increased significantly while fees remained static, and no agreement could be reached with management on revised fees. The auditor confirmed completion of the Q2 FY26 limited review (quarter ended September 30, 2025) and explicitly stated no material concerns about the company's management or financials. PMC Fincorp has said the Audit Committee and Board will appoint a new auditor to fill the casual vacancy.
The resignation is linked to a fee disagreement rather than governance or financial misstatement concerns, which is relatively benign. However, mid-term auditor exits can create short-term uncertainty; investors should watch for timely appointment of a replacement auditor and any further communication from the company.