In terms of Regulation 30 of the SEBI (LODR) Regulations, 2015 please find enclosed Postal Ballot Notice dated April 08, 2026
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Promax Power Ltd has issued a postal ballot notice seeking shareholder approval for appointing M/s. Manish Jain & Associates as the new statutory auditors. The appointment is to fill a casual vacancy caused by the resignation of M/s. Raj Gupta & Co., who stepped down on December 05, 2025. The outgoing auditors cited inability to ethically conduct audits as per required standards and legal requirements. The new auditors were appointed by the Board on December 25, 2025, effective from that date. E-voting is open from April 10, 2026 to May 09, 2026, with results by May 12, 2026.
The resignation of Raj Gupta & Co. mid-term raises governance concerns as auditors typically do not leave mid-tenure without reasons. Shareholders should note this change and the stated ethical concerns behind the resignation.