SHREEOSWAL SEEDS AND CHEMICALS LIMITED has informed the Exchange about Resignation of Statutory Auditor
OSWALSEEDS · price
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J.C. Baheti & Associates, Chartered Accountants (FRN: 003390C) has resigned as the Statutory Auditor of ShreeOswal Seeds And Chemicals Limited with effect from 12th August 2025. The same auditor has also resigned from the company's material subsidiary, Shreeoswal Psyllium Exports India Limited. The reason cited is insufficient remuneration given the time and distance involved in carrying out the audit. The auditor was originally appointed in September 2023 for a five-year term ending with the FY2027-28 AGM, so this is a mid-term exit. The auditor had completed the FY2025 statutory audit (submitted on 30th May 2025) and the limited review for Q1FY26 before stepping down. The Audit Committee and Board will appoint a new auditor to fill the casual vacancy.
The resignation reason is commercial (low audit fees) rather than any concern over financial statements or governance, which is mildly reassuring. However, the company now needs to quickly appoint a new statutory auditor for both itself and its material subsidiary. Mid-term auditor exits, even for routine reasons, can briefly dent investor sentiment until a replacement is announced.