Appointment of Statutory Auditor to fill the vacancy of the company
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Resourceful Automobile Ltd's statutory auditor M/s NYS & Company (FRN: 017007N) resigned on 7th October 2025, citing preoccupation with other professional commitments and a potential conflict of interest. The Audit Committee reviewed the resignation and noted no concerns or issues were flagged by the outgoing auditor. The Board, on the Audit Committee's recommendation, appointed M/s N G M K S & Associates (FRN: 024492N), a New Delhi-based firm established in December 2011, as the new statutory auditor effective 8th October 2025. The appointment is subject to shareholder approval at the next AGM, and the new firm will hold office until that meeting.
This is a mid-term auditor change within the same financial year, which investors should monitor. While the outgoing auditor did not raise any red flags, the cited 'potential conflict of interest' warrants attention. A quick appointment of a replacement and no reported concerns suggest the change is likely administrative, but shareholders may want clarity on what conflict was identified before approving the new appointment.