New auditor appointed; Rs 30 crore preferential issue approved

Auditor Resigned MidtermManagement Changes View source PDF Explain this filing

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-3.5%1-day move

₹10.98

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AI summary

Board appointed M/s A S Bhutani and Associates as Statutory Auditors for 5 years (FY 2026-27 to 2030-31), filling the casual vacancy from the resignation of M/s Kapil Sandeep and Associates. Also approved preferential issue of 2.32 crore warrants at Rs 12.50 each (around Rs 29 crore) and 8 lakh equity shares at Rs 12.50 (around Rs 1 crore) to non-promoters. AGM set for 18 September 2026.

Likely market impact

Auditor change mid-term may raise governance concerns; Rs 30 crore preferential issue will dilute existing shareholders.