Change in Management
Price
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Unifinz Capital India Ltd (Delhi-based NBFC, brand 'Lendingplate') has accepted the mid-term resignation of its Statutory Auditor, M/s VR Associates (FRN: 0001239C), effective close of business on 30 May 2025. VR Associates had been appointed at the 40th AGM on 30 October 2023 for a full 5-year term ending at the 45th AGM in 2028, meaning the firm exits roughly 1.5 years into its tenure. In its resignation letter, VR Associates said the exit was 'as discussed and agreed with the management' to allow the company to make 'desired changes,' and explicitly stated there was no dispute, no lack of audit evidence, and no concerns about information suppression by management. The same board meeting re-appointed M/s PVAR & Associates as Internal Auditor for FY26 and appointed Mr. Uttsav Singh of Singh US & Associates as Secretarial Auditor for five consecutive years (FY26–FY30), subject to shareholder approval. Importantly, VR Associates had not yet issued the FY25 (year ended 31 March 2025) statutory audit report or the Q1 FY26 limited review, so those remain pending with a new auditor to be appointed.
Although the outgoing auditor flagged no governance or audit-quality concerns, any mid-term statutory auditor change typically warrants investor attention. The key near-term watch-item is how quickly Unifinz appoints a replacement statutory auditor to complete the pending FY25 audit and Q1 FY26 limited review, which could introduce short-term uncertainty around timely financial disclosures.