Resignation of Tolwani and associates as Statutory Auditors wef from 29-04-2026
Awaiting price reaction for this filing.
Indus Fila Limited's statutory auditor, M/s Tolwani & Associates, has resigned effective April 29, 2026, citing pre-occupation with other assignments. The auditor was appointed only recently on September 30, 2025, and was scheduled to serve until 2029-30. The Board, based on the Audit Committee's recommendation, appointed M/s CAAG & Associates as the new statutory auditor to conduct the audit for FY 2025-26 and hold office until the conclusion of the ensuing AGM. CAAG & Associates is an established firm since 2002 with offices in Aurangabad, Mumbai, and Surat, offering tax consultancy, statutory audits, and corporate law services.
The mid-term resignation of the statutory auditor, just 7 months after appointment, raises governance concerns as investors may question why the auditor left so quickly. The replacement is for a short term only (until next AGM), suggesting this may be an interim arrangement.