We wish to inform that M/s. Chanani & Associates, Chartered Accountant, FRN: 325425E tendered its resignation today vide resignation letter dated 13th May 2025.
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Shentracon Chemicals Ltd informed the stock exchanges that its statutory auditor, M/s Chanani & Associates (FRN: 325425E), resigned effective May 13, 2025. The auditor was originally appointed for a five-year term (FY 2022-23 to FY 2026-27) at the AGM held on September 30, 2022, and had completed about three years. The resignation was attributed to the auditor's personal health constraints, which prevented him from devoting adequate time to his assignments. The auditor had completed and submitted the audit report for FY ending March 31, 2025 on May 10, 2025, and confirmed there are no concerns regarding management, financial information, or any other material reasons for stepping down.
This is a mid-term auditor change driven by the auditor's personal health issues rather than any governance red flag, which limits negative implications for the stock. However, Shentracon will need to appoint a new statutory auditor in the near term, and shareholders should watch for timely disclosure of the replacement to ensure audit continuity.