Resignation of Statutory Auditors
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S. V. J. Enterprises informed the stock exchange about its board meeting held on May 29, 2025, where it accepted the resignation of its statutory auditor M/s PSV Jain & Associates (FRN: 131505W) with immediate effect, citing pre-occupation with other assignments. To fill the casual vacancy, the company appointed M/s Bhasin Hota & Co (FRN: 509935E) as the new statutory auditor to conduct the audit for FY ending March 31, 2025, pending shareholder approval. The company also appointed S K Dwivedi & Associates as secretarial auditor for FY 2024-25 and declared audited financial results for the year ended March 31, 2025. The outgoing auditor did not raise any concerns, and the new statutory auditor issued an unmodified (clean) opinion on the standalone financial statements.
The mid-term auditor change appears routine as the outgoing firm cited pre-occupation rather than any governance issues, and a replacement was appointed immediately. The clean audit opinion on FY25 results is a positive signal for shareholders, though investors may want to monitor the transition closely.