Auditor and Independent Director resign; new auditor appointed
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Board on 10 July 2026 noted the resignation of Independent Director Ajay Chandwani effective 13 June citing age and health issues, and Statutory Auditor PAMS and Associates effective 12 June citing geographical constraints as the firm is based in Bhubaneswar while the company operates from Mumbai. It approved appointing S S S S and Associates as new Statutory Auditor for 5 years from FY 2026-27 to FY 2030-31, subject to shareholder approval. Board also decided to distribute net proceeds from the sale of fractional shares arising from the earlier share consolidation to eligible shareholders.
Auditor change is mid-term but reason is logistical, not governance. Director exit due to personal health. Minimal expected stock impact.