Announcement under Regulation 30 (LODR) - Resignation of Statutory Auditor
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M/s Raj Gupta & Co., Chartered Accountants has resigned as the Statutory Auditor of Promax Power Ltd, effective December 5, 2025. The firm cited pre-occupation with other assignments as the reason and confirmed there are no other material concerns. The auditor had already completed the Limited Review Report for the half-year ended September 30, 2025 before stepping down. The original term was scheduled to expire on September 30, 2025, and the firm continued briefly to finish the limited review. The Board and Audit Committee will recommend a new Statutory Auditor for shareholder approval at the next general meeting.
This appears to be a routine auditor change driven by workload reasons rather than any dispute with management, with no governance red flags flagged. Investors should watch for the appointment of a new auditor at the upcoming shareholder meeting; the transition could cause a short delay in audit-related timelines but is unlikely to materially affect the stock.