ShreeOswal Seeds And Chemicals Limited has informed the Exchange regarding Resignation of J.C. Baheti & Associates, Chartered Accountants as statutory auditor of the company w.e.f. August 12, 2025.
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ShreeOswal Seeds And Chemicals Limited has informed the NSE that its statutory auditor, J.C. Baheti & Associates (FRN 003390C), has resigned with effect from August 12, 2025. The auditor was originally appointed for the five-year period from FY2023-24 to FY2027-28, so this is a midterm exit. In their resignation letter, the auditors cited insufficient remuneration relative to the time and distance involved in conducting the audit as the reason for stepping down. They confirmed they had completed the statutory audit for FY ending March 31, 2025, and submitted the limited review report for Q1 FY26 (quarter ending June 30, 2025). The auditor also confirmed there are no other material concerns, no issues with management, and no qualifications regarding the financial statements. The company's Audit Committee and Board will appoint a new statutory auditor to fill the casual vacancy in their upcoming meeting.
The resignation is driven by fee disagreement rather than any audit quality or governance concern, which is mildly reassuring for shareholders. However, the company will need to quickly appoint a new auditor before the next reporting cycle; delays or a difficult search for a replacement could create short-term uncertainty around audit timelines.