In terms of Regulation 30 of the SEBI (LODR) Regulations, 2015, this is to inform that M/s. Valawat & Associates Staututory Auditor of the company has tendered their resignation w.ef. 29.09.2025.
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Rapid Investments Ltd has informed BSE that its statutory auditor, M/s. Valawat & Associates (Firm Registration No. 003623C), has resigned with effect from 29 September 2025. The auditor was originally appointed on 30 September 2024 with a term scheduled to run until 31 March 2029, making this a mid-term exit roughly a year into the engagement. According to the resignation letter, the auditor sought a revision of professional fees due to increased business operations, greater compliance complexity, and heavier workload, but the management did not accept the proposed fee revision, making it difficult for them to continue. The auditor confirmed there are no other material reasons for stepping down and that no concerns were escalated to the Audit Committee. The company has signed the intimation through Managing Director Nina Ranka.
This is a mid-term auditor exit driven purely by a fee disagreement, with no indication of governance red flags or accounting concerns. For shareholders, it is mildly negative as the company will need to appoint a new auditor quickly, but the disclosed reason does not suggest any financial misreporting or fraud. The event is unlikely to move the stock materially on its own.