Resignation of Statutory Auditor
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M/s Mantry & Associates, Chartered Accountants (FRN: 315048E), has resigned as the Statutory Auditor of Teesta Agro Industries Ltd effective 23 July 2025. The reason given is that their firm is merging on 16 June 2025, which will make them ineligible to continue as auditors of the company. The auditor had been appointed on 24 September 2022 for a five-year term, so this is a mid-term exit roughly three years before schedule. Importantly, the resigning auditor explicitly stated there are no concerns, no disputed matters, and no issues with the financial statements. The company has already appointed M/s Agarwal R G & Associates, Chartered Accountants (FRN: 329080F), as the new Statutory Auditor to fill the casual vacancy until the next AGM, pending shareholder approval.
This is a routine, non-alarming auditor change triggered by a technical reason (firm merger) rather than any governance or financial concerns. The outgoing auditor confirmed clean records, and a replacement is already in place, so there is minimal expected impact on the stock or shareholders.