Intimation of Resignation of Statutory Auditor of the company w.e.f 20th August, 2025
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Shelter Pharma Ltd informed BSE that its Statutory Auditor, M/s Mendajiwala & Co., Chartered Accountants, resigned effective close of business on 20th August 2025. The auditor was originally appointed on 30th September 2022 for a 5-year term ending at the 20th AGM for FY 2026-27, meaning they are quitting about two years early. The stated reason is pre-occupation with other audit assignments, and the auditor has explicitly confirmed there were no professional disagreements, no issues obtaining audit evidence, and full cooperation from management. The audit report for FY ending 31st March 2025 was issued on 29th May 2025 with an unmodified (clean) opinion. The Audit Committee and Board will appoint a new Statutory Auditor for shareholders' approval at an upcoming meeting.
This is a midterm auditor departure, which retail investors typically watch carefully. Reassuringly, the auditor cited only logistical reasons and confirmed no governance or accounting red flags, and the last audit was clean. However, a new auditor needs to be appointed soon, and investors should monitor upcoming filings to confirm a credible replacement is named without delay.