Appointment of M/s. Sarath and Associates, Chartered Accountants (FRN: 005120S) as Forensic Auditor for the reasons mentioned in the attachment.
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Skyline Ventures India's board, which met on January 9, 2026, appointed Sarath and Associates (Chartered Accountants) as Forensic Auditor to examine financial transactions, statutory compliances, possible diversion of funds, and any misappropriation by the company. The board also authorized collecting documents and login credentials from the previous management, and empowered directors to engage legal counsel for defending the company in legal forums. Additionally, GVR and Associates was appointed as Secretarial Auditor for a 5-year term (FY2025-26 to FY2029-30). The appointment of a forensic auditor and the move to retrieve information from prior management suggests the new board is probing potential irregularities in earlier years.
This is a red flag for investors — a forensic audit often precedes the discovery of financial misstatements or fund diversions, which can weigh on the stock and prompt regulatory scrutiny. Until the forensic auditor submits its report, uncertainty around past management's conduct is likely to persist.