Please find attached annoucement for resignation of auditor from the company.
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M/s. Manoj Vatsal & Co., Chartered Accountants, has resigned as the Statutory Auditor of Toyam Sports Ltd effective 27th June 2025. The auditor was originally appointed on 30 November 2020 and was serving a term scheduled to expire in 2025-26, making this a mid-term exit. The auditor cited delays in sharing data, records, and holding board meetings as hampering audit quality, along with increased SEBI and Companies Act compliance demands that their firm could not support. Notably, the auditor had just submitted the FY 2024-25 audit report on 21st June 2025, days before stepping down. The company has not yet announced a replacement auditor.
This mid-term auditor resignation citing delays in board meetings and data sharing raises governance red flags for shareholders and could weigh on stock sentiment. The company must appoint a new statutory auditor quickly to avoid delays in future filings, and investors should watch for any further disclosures about the board and compliance issues the auditor flagged.