SONAM LIMITED has informed the Exchange about Resignation of Statutory Auditor
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SVK & Associates, Chartered Accountants, has resigned as the Statutory Auditor of Sonam Limited, effective from the close of business on 30 May 2025. The firm was originally reappointed in September 2023 for a five-year term that was scheduled to run until 31 March 2028, making this a mid-term exit roughly two years before the term's end. The reason cited is the firm's decision to focus on non-audit professional services. Importantly, the auditor had already completed the statutory audit for FY24-25 (report dated 9 May 2025) and has not flagged any concerns, management limitations, or information gaps prior to stepping down.
The resignation appears routine and non-adverse: the auditor completed the latest annual audit without qualifications and cited a strategic refocus rather than any dispute. Shareholders should expect the board to appoint a new statutory auditor soon, but the immediate effect on financials or stock price is likely minimal.