Outcome of Board Meeting dated 8th October, 2025
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On 8th October 2025, the Board of Resourceful Automobile Ltd accepted the resignation of M/s NYS & Company (FRN: 017007N) as Statutory Auditor, effective 7th October 2025. The outgoing auditor cited 'preoccupation with other professional commitments & potential conflict of interest' as the reason in their resignation letter. The Audit Committee reviewed the matter and confirmed the auditor had not raised any concerns about the company's financials or auditing. The Board also recommended the appointment of M/s N G M K S & Associates (FRN: 024492N), a Delhi-based Chartered Accountancy firm, to fill the casual vacancy, subject to shareholder approval at the next AGM. The new auditor will hold office until the ensuing AGM.
Mid-term auditor change citing 'potential conflict of interest' is a notable governance signal, though the audit committee confirmed no audit concerns were raised by the outgoing firm. Existing shareholders should watch for shareholder approval of the new auditor at the next AGM, as sudden auditor exits can sometimes trigger scrutiny.