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Awaiting price reaction for this filing.
The board of Sofcom Systems Ltd approved the appointment of M/s Tamakuwala & Co., Chartered Accountants (FRN: 114137W) as the company's Internal Auditor for FY 2024-25, on the recommendation of the Audit Committee at a meeting held on June 16, 2025. M/s Tamakuwala & Co. is a Surat-based chartered accountancy firm registered with ICAI since June 1970, offering statutory audit, tax audit, GST audit, internal audit, advisory and compliance services with a pan-India network and a team of 20-plus professionals. The filing is made under Regulation 30 of the SEBI Listing Regulations and is signed by Tanvi Jay Rupawala, Managing Director & CFO. Notably, the appointment comes after the close of FY 2024-25 (which ended March 31, 2025), suggesting a delayed appointment. No details about the previous internal auditor or the reason for change were provided.
This is a routine corporate governance and compliance matter with no direct impact on shareholders or stock price. The fact that an internal auditor is being appointed after the fiscal year has ended may raise minor governance questions about timeliness, but is not material for investors.