Pursuant to Regulation 30 of the SEBI (LODR) Regulation, 2015, the board of directors in their meeting held on 03.10.2025 have proposed to appoint the statutory auditors M/S NNK & Co. as ....
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Rapid Investments Ltd held a board meeting on 3 October 2025 where directors approved the appointment of M/s. NNK & Co., Chartered Accountants (FRN: 143291W), as the new statutory auditor of the company. This appointment fills a casual vacancy caused by the resignation of the previous auditor, M/s. Valawat & Associates, and NNK & Co. will hold office until the next AGM. NNK & Co. is a Mumbai-based multi-disciplinary CA firm with 4 partners, over 10 years of experience, and a valid peer review certificate. The board also approved a postal ballot to seek shareholders' approval for this appointment, with e-voting running from 6 October to 4 November 2025, and appointed Mr. Pankaj Desai as scrutinizer. The company has sought shareholder ratification because casual vacancy appointments under Section 139/142 of the Companies Act require member approval.
The mid-term change of statutory auditor is notable for shareholders — the previous auditor resigned, and a new firm is being brought in, which warrants a check on past audit qualifications. Until the postal ballot result, shareholders should monitor whether there were any audit concerns that triggered the resignation.