S.J.S. Enterprises Limited has informed the Exchange regarding 'Intimation of Resignation of Statutory Auditor of Material Subsidiaries '.
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B S R & Co. LLP has resigned as the statutory auditor of two material subsidiaries of S.J.S. Enterprises — SJS Decoplast Private Limited and Walter Pack Automotive Products India Private Limited — effective June 25, 2025. The resignation is part of management's decision to align the auditors of these subsidiaries with those of the holding company, because B S R & Co. is due for mandatory rotation as auditor of S.J.S. Enterprises under the Companies Act, 2013. B S R & Co. had already completed the FY25 audit for both subsidiaries (reports issued on May 7, 2025) and confirmed there are no concerns, no management-imposed limitations, and no other material reasons for stepping down. The original terms were scheduled to run until the AGMs for FY2026 and FY2029 respectively, so this is a mid-term exit driven by routine auditor rotation alignment rather than any dispute.
This is a routine, planned auditor rotation at the subsidiary level and not a red flag — shareholders should note that the change is being made to maintain consistency with the holding company's auditor and there are no governance or audit-quality concerns flagged. Minimal impact on the stock is expected.