General Announcement_Update on Board Meeting
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board meeting of Thinkink Picturez Ltd scheduled for August 1, 2025 to approve Q1 FY26 (quarter ended June 30, 2025) financial results was adjourned because the Audit Committee did not approve the results. Both the Audit Committee and Board meetings have been rescheduled to August 12, 2025. Separately, statutory auditor M/s Parin Patwari & Co. resigned effective July 31, 2025, citing that the auditor no longer wishes to continue operating the proprietorship firm. To fill the casual vacancy, the board has appointed M/s Chandabhoy & Jassoobhoy, Chartered Accountants (FRN 101648W) as the new statutory auditor for a 5-year term, subject to shareholder approval. Notably, the resigning auditor's disclosure mentions that a 'Modified Opinion' was issued on prior period financial statements, indicating some prior audit concerns, though no specific reasons for dissatisfaction with management were flagged.
The adjournment delays the release of Q1 FY26 results, which may create uncertainty for investors. The mid-year auditor change, combined with the prior modified opinion and the unusual situation where the audit committee did not approve results, are red flags that could weigh on short-term sentiment and warrant close scrutiny once the new auditor's review is complete.