Shayona Engineering: Statutory Auditor SGPS and Associates Resigns

Auditor Resigned MidtermManagement Changes View source PDF Explain this filing

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₹135.50

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Nifty Microcap 250market · in no size index; the smallest one is used+0.6%-0.2% vs market

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On the reaction day the stock moved 0.2 pts less than Nifty Microcap 250 and in line with its Castings & Forgings peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

SGPS and Associates (FRN 132946W) resigned as Statutory Auditor of Shayona Engineering on 24 Aug 2026, citing increased audit scope after the BSE SME listing and failure to agree on revised professional fees. The auditor confirmed there are no fraud, management cooperation or other material concerns. The company will fill the casual vacancy and appoint a new auditor under Section 139(8) of the Companies Act.

Likely market impact

Auditor exit was over fee terms, not governance concerns. Company must appoint a replacement within 90 days to stay compliant.