Time Technoplast Limited has informed the Exchange regarding Change in Auditors of the company.
TIMETECHNO · price
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Awaiting price reaction for this filing.
Time Technoplast Limited's joint statutory auditor, M/s. Khandelwal Jain & Co., has resigned effective August 12, 2025, less than a year into their 5-year term. The firm cited an inability to cover 23-24 plants of the company within the required timeframe, saying the workload strained their resources alongside other client commitments. The Audit Committee confirmed that no concerns, qualifications, or governance issues were raised by the resigning auditor. The Board has appointed M/s. Raman S. Shah & Co., a Mumbai-based firm established in 1982, as the new Joint Statutory Auditor for a 5-year term, subject to shareholder approval at the 35th AGM scheduled for September 11, 2025. M/s. K P M R & Co. continues as the other Joint Statutory Auditor, so overall audit coverage remains intact.
This should be largely neutral for shareholders. The resignation is operational in nature rather than governance-driven, no audit red flags were flagged, and a replacement is already in place. However, losing an auditor mid-term may warrant mild investor attention, though the prompt appointment of a replacement and continuing joint auditor should limit any negative stock reaction.