Resignation of Statutory auditor of the company
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Swadha Nature Limited announced that its statutory auditor Mr. Sanket Shah (Membership No. 150873) resigned effective May 10, 2025, citing personal health reasons and the need to take a break from professional life. He was originally appointed in September 2023 for a 5-year term ending at the 2028 AGM, making this a mid-term exit. The company has appointed M/s. P H Shah & Co, Chartered Accountants (FRN: 115464W) to fill the casual vacancy until the next AGM. The board also approved FY25 audited results showing total revenue of Rs. 9.07 lakhs (down from Rs. 15.77 lakhs) and a net loss of Rs. 2.64 lakhs versus a Rs. 1.84 lakh profit last year. Additionally, the company plans to shift its registered office from Bihar to Gujarat via postal ballot and has appointed a Secretarial Auditor for FY25.
Auditor resignations mid-term — even for personal health reasons — often raise governance questions for small-cap investors, though no adverse observations were reported by the outgoing auditor. The company is loss-making with negative reserves (other equity of -348.01 lakhs), and the office relocation signals a strategic shift. Shareholders should monitor the replacement auditor's findings and the postal ballot outcome.