M/s. Sumit Ranka & Associates, Chartered Accountants has resigned from the Company w.e.f 07.08.2025.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Sidh Automobiles' statutory auditor M/s Sumit Ranka & Associates resigned effective 7 August 2025, well before their term was due to end on 31 March 2029, citing pre-occupation with other assignments. The board has recommended appointing M/s B.M. Gattani & Co. as the new statutory auditor to fill the casual vacancy, subject to shareholder approval at the upcoming AGM. In the same board meeting, Ms Rinku Saini (IT sector professional) was appointed as a Non-Executive Independent Woman Director, and M/s Anuj Gupta & Associates was named as the new Secretarial Auditor for 5 years. The 40th AGM is scheduled for 1 September 2025. Q1 FY26 results were also approved: total income of ₹8.56 lakhs and profit after tax of just ₹1.95 lakhs, compared to a profit of ₹2.65 crore in the previous quarter, reflecting very weak operational performance.
The mid-term exit of the statutory auditor after barely 16 months may raise minor governance questions, though the reason given (other assignments) is routine and a replacement has been lined up. The Q1 numbers show the company's core operations remain very thin, which is the bigger concern for shareholders.