Resignation of Statutory Auditor

Auditor Resigned MidtermManagement Changes View source PDF Explain this filing

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Nifty Microcap 250market · in no size index; the smallest one is used+0.5%-0.5% vs market

Advertising & Media Agencies peers, median of 7sector-0.9%+0.9% vs sector

On the reaction day the stock moved 0.5 pts less than Nifty Microcap 250 and 0.9 pts more than its Advertising & Media Agencies peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Thinkink Picturez Ltd informed BSE that its Board Meeting held on August 1, 2025 was adjourned because the Audit Committee did not approve the Unaudited Financial Results for Q1 FY26 (quarter ended June 30, 2025); the meeting is now rescheduled to August 12, 2025. Separately, M/s Parin Patwari & Co. resigned as Statutory Auditor effective July 31, 2025, citing that the auditor does not wish to continue operating his proprietorship firm. To fill the casual vacancy, the Board appointed M/s Chandabhoy & Jassoobhoy, Chartered Accountants (FRN 101648W), based in Ahmedabad with a valid ICAI peer review certificate, for a 5-year term subject to shareholder approval at the upcoming AGM. The company continues to be listed on BSE under scrip code 539310.

Likely market impact

Auditor change mid-term combined with the Audit Committee withholding approval of quarterly results raises governance concerns and may create short-term uncertainty for shareholders, warranting close watch on the rescheduled August 12 outcome and any qualifications in the forthcoming financials.