Appointment of statutory auditor on recommendation of audit committee.
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Valencia India Ltd informed the stock exchange about the outcome of its board meeting held on January 2, 2026. The company appointed M/s. Panchal S K & Associates (FRN: 145989W) as the new Statutory Auditor to fill the casual vacancy caused by the resignation of M/s. Doshi Doshi & Co (FRN: 153683W), who stepped down on December 15, 2025 with immediate effect. The Audit Committee noted that the outgoing auditor did not raise any concerns or issues regarding their resignation. The new auditor, established in 2012, will hold office until the conclusion of the upcoming AGM for FY ending March 31, 2026, subject to shareholder approval within three months.
This is a mid-term auditor change. While the audit committee states no red flags were raised by the outgoing auditor, investors should note the sudden resignation and monitor whether any further disclosures are made. A new auditor before the FY26 annual audit may delay or add caution to the upcoming audit cycle.