Resignation of Statutory Auditors.
Awaiting price reaction for this filing.
Inditrade Capital's statutory auditor M/s. Kirtane & Pandit LLP resigned effective February 12, 2026, midway through their term (originally appointed for FY2023-24 to FY2027-28). The resignation letter cites serious concerns: the firm says management failed to provide complete and timely financial information needed for limited reviews of Q1, Q2/H1, and Q3/9M FY26 results, and never shared consolidated financial statements at all. They described 'continued non-cooperation from the Management' and said they could not discharge their professional responsibilities. To fill the casual vacancy, the board (on audit committee recommendation) appointed M/s. CLB & Associates as the new statutory auditor effective February 13, 2026, until the next AGM.
This is a significant red flag for shareholders. An auditor quitting mid-term over alleged management non-cooperation and missing financial data raises serious concerns about the company's financial reporting quality, internal controls, and governance. Investors should watch closely for any delayed or qualified results, restatements, or regulatory queries, and may want to exercise caution until clarity emerges on the underlying issues.