We herewith submit the outcome of board meeting held today to discuss the agendas attached herewith
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Sidh Automobiles held a board meeting on May 8, 2025 (3:00 PM to 4:00 PM) and approved two key auditor appointments. First, Ms. Srishty Bansal was appointed as Internal Auditor for FY 2025-26. Notably, Ms. Bansal also serves as the Company's existing Company Secretary & Compliance Officer, raising a potential governance concern around independence in dual roles. Second, M/s Anuj Gupta & Associates, a peer-reviewed firm, was appointed as Secretarial Auditor for a 5-year term, subject to shareholder approval at the next AGM. Both appointments are effective May 8, 2025.
These are routine auditor appointments that strengthen compliance oversight, but shareholders may want to keep an eye on the unusual overlap where the Compliance Officer is also serving as Internal Auditor, which could raise independence questions. Minimal direct stock price impact expected.