Pursuant to Reg 30 of the LODR 2015 we inform you that the present Statutory Auditor of the Company Sri. T.M.Mohanraj has resigned with effect from closure of the business hours on 14-05-2025.
Awaiting price reaction for this filing.
Gangotri Textiles Ltd has informed the stock exchange that its Statutory Auditor, M/s. Mohanraj & Sankar (Chartered Accountants), has resigned effective the close of business hours on 14 May 2025. The auditor was appointed for a 5-year term covering FY 2024-25 to FY 2028-29, meaning this is a mid-term exit well before the scheduled expiry of 31 March 2029. The reason cited is pre-occupation with other professional assignments and inability to devote adequate time to the company. Notably, the auditor had just issued the audit report and limited review report for the quarter and FY ended 31 March 2025 on 12 May 2025, two days before resigning. The auditor confirmed no management-imposed limitations, no disputes, and that all information requested was provided.
Investors should note this is a mid-term auditor change roughly one year into a 5-year tenure, which may raise minor governance questions even though the cited reason is benign. The company will need to appoint a new statutory auditor soon; until then, shareholders should watch for the appointment announcement and ensure no restatements are required.