SKY GOLD AND DIAMONDS LIMITED has informed the Exchange about Resignation of Statutory Auditor
SKYGOLD · price
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M/s V J Shah & Co. has resigned as the statutory auditor of Sky Gold and Diamonds Limited and its three subsidiaries (Starmangalsutra Private Limited, Sparkling Chains Private Limited, and Speed Bangle Private Limited) effective May 8, 2026. The auditor cited a significant increase in audit scope due to the company's recent acquisition of two additional subsidiaries, including a foreign subsidiary, which enlarged the consolidated group structure beyond what was anticipated when they were reappointed in September 2025. The auditor confirmed there is no disagreement with management, no concerns about financial records, and no denial of access to information. They will still complete the FY 2025-26 audit. The company will appoint a new auditor to fill the vacancy.
This is a mid-term auditor change which may create a temporary governance concern, though the stated reason (increased audit scope from acquisitions) appears benign. Investors should monitor for timely appointment of a new auditor and any impact on future audit quality or reporting timelines.