Resignation of Statutory Auditors
Awaiting price reaction for this filing.
Omega Interactive Technologies announced that its statutory auditor, M/s Desai Saksena & Associates (Firm Reg. No. 102358W), resigned effective March 31, 2025, before the end of their scheduled term (which was to run until March 31, 2027). The reason cited is the management's decision to appoint the group's common auditor across all entities under the same management. The Board approved the appointment of M/s S S R V & Associates (Firm Reg. No. 135901W), a peer-reviewed firm founded in 2007, as the new statutory auditor effective April 1, 2025. The new auditor will hold office until the conclusion of the next Annual General Meeting for FY 2024-25, subject to shareholder approval.
This is a routine auditor rotation to consolidate auditing under a single group auditor, which is common in companies with related entities. The outgoing auditor confirmed there are no material concerns or reasons beyond what was stated, so this is unlikely to have a negative impact on the stock. Shareholders will need to approve the new auditor at the upcoming AGM.