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Varyaa Creations has revised its earlier board meeting disclosure regarding the appointment of M/s Bhatter and Company (FRN 131092W), led by Mr. Dalulal H Bhatter, as its new statutory auditor. The correction clarifies that the appointment is to fill a casual vacancy — not a regular appointment for FY 2025-26 as originally stated — and is specifically for conducting the statutory audit for FY 2024-25. The casual vacancy was caused by the exit of the previous auditor, M/s N B T & Co, Chartered Accountants, Mumbai. The appointment is for a 5-year term (from the 20th AGM to the 25th AGM) and is subject to shareholder approval at the upcoming general meeting, as required under Section 139(8) of the Companies Act, 2013.
Shareholders should note that the company changed auditors mid-cycle, which may raise governance questions, but the change appears procedural and the new auditor is a peer-reviewed firm with over 10 years of experience. Investors should monitor the upcoming AGM for shareholder ratification of this appointment.