Appointment of D. Kothary & Co, Chartered Accountants as Statutory Auditors
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Relic Technologies Limited has appointed M/s. D. Kothary & Co, Chartered Accountants (F.R.N.: 105335W) as its new Statutory Auditor with effect from 27th July 2025. This appointment is to fill the casual vacancy caused by the resignation of the previous auditor, M/s. Uday Pasad & Associates (F.R.N.: 0113230W), on the recommendation of the Audit Committee. The new auditor's appointment is subject to shareholder approval at the next general meeting (to be held within 3 months) and is for an initial term of 5 years. D. Kothary & Co was founded in 1989 and has over 100 years of cumulative partner experience in assurance, tax, and advisory services across multiple sectors. The company holds no shareholding in the new auditor firm.
The mid-term change of statutory auditor may raise governance questions among shareholders, though appointing a long-established firm (operating since 1989) suggests continuity of audit standards. Investors should watch for shareholder approval at the upcoming general meeting and any further disclosures about why the previous auditor stepped down.