Pursuant to regulation 30 and other relevant of SEBI (LODR) Regulations, 2015 we hereby inform you that the Company has received notice of resignation from the Statutory Auditor''s of the ....
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Rapid Investments Ltd informed the stock exchange that its statutory auditor, M/s. Valawat & Associates (Firm Registration No. 003623C), has resigned with effect from 29th September 2025, after serving for over a year. The auditor cited a significant increase in business operations, growing complexity in compliance and disclosure requirements, and the substantial time and effort required for the audit as reasons. The auditor had requested a revision of professional fees to reflect these additional responsibilities, but the management did not accept the proposed fee revision, making it difficult for the auditor to continue. The company will now need to appoint a new statutory auditor to fill the vacancy.
The auditor's exit mid-term due to a fee dispute may raise governance concerns for retail investors. The company will need to appoint a replacement auditor soon to stay compliant, and any delays or further disagreements could attract regulatory scrutiny.