Resignation of Statutory Auditors of the Company
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Vivid Mercantile Ltd's statutory auditor M/s AKGVG & Associates (Firm Registration No. 018598N) has resigned effective August 12, 2025. The auditor cited the demerger of their firm and the retirement of the relationship partner as reasons, stating they cannot continue in the role. The firm had been appointed on February 26, 2025, and had submitted a Limited Review Report for Q1 FY26 (quarter ended June 30, 2025) just a day before resigning. The auditor confirmed there are no other material reasons for the resignation and no concerns with management.
The company will need to appoint a new statutory auditor before the next AGM. While the resignation is due to internal restructuring at the audit firm and not governance issues at Vivid Mercantile, midterm auditor changes can sometimes raise minor governance questions among investors.