Resignation of auditors
Awaiting price reaction for this filing.
M/s H. G. Sarvaiya & Co., Chartered Accountants (FRN: 0115705W) has resigned as Statutory Auditor of Lords Mark India Limited on October 28, 2025. The firm had been appointed for a full 5-year term covering FY 2025-26 to FY 2029-30, but stepped down almost immediately, citing completion of their existing audit term and a decision not to seek reappointment due to internal audit capacity constraints. The auditor confirmed there are no concerns about management integrity, no qualifications in past reports, and no pending fees. The resignation has been communicated to the Audit Committee and Board, and the company is in the process of appointing a new statutory auditor to fill the casual vacancy, subject to shareholder approval.
An auditor stepping down so soon into a freshly appointed 5-year term is unusual and may draw governance attention from shareholders, though no red flags were raised. Investors should watch for timely appointment of a replacement auditor to avoid any disruption to the FY 2025-26 audit cycle.