RAJNANDINI METAL LIMITED has informed the Exchange about Resignation of Statutory Auditor
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Rajnandini Metal Limited's statutory auditor, KAPG & Associates (FRN: 032569N), has resigned effective August 13, 2025, roughly a year into a five-year term that was due to run until the 2029 AGM. The auditor cited an inability to continue at the existing fee structure after requesting a fee hike to cover additional audit procedures required by recent changes in financial reporting and disclosure norms. The company declined to raise fees, prompting the resignation. KAPG & Associates has clearly stated there are no disputes, no concerns about management-provided information, and no governance issues. They completed the FY25 audit (report dated May 29, 2025) and the Q1 FY26 limited review (report dated August 11, 2025) before stepping down.
This is a mid-term auditor exit driven by a fee disagreement rather than any governance red flag, which is mildly negative but not alarming. Shareholders should watch for timely appointment of a replacement auditor, as prolonged vacancy could delay future audits and reporting. No immediate impact on already-published FY25 results is expected since those were already signed off.