SONAM LIMITED has informed the Exchange regarding revised outcome of Board meeting held on May 31, 2025.
SONAMLTD · price
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SONAM LIMITED has filed a revised outcome of its board meeting held on May 31, 2025, covering two resignations. Director Jayesh Chhabildas Shah resigned effective May 30, 2025, with no reason or brief profile disclosed. Separately, the company's statutory auditor SVK & Associates (Chartered Accountants) also resigned effective the close of business on May 30, 2025, citing the firm's wish to focus on non-audit professional services. SVK & Associates had been reappointed on September 22, 2023 for a 5-year term ending March 31, 2028, making this a mid-term exit. The auditor confirmed completion of the FY24-25 statutory audit and stated no concerns with the company's financial statements or management.
The mid-term statutory auditor change means SONAM will need to appoint a new auditor soon, creating short-term uncertainty, though the resigning firm flagged no issues with the books. The simultaneous exit of a director and the auditor is worth monitoring, even though the stated reasons appear routine and non-contentious.