Resignation of Statutory Auditor of the Company
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VJTF Eduservices Ltd's statutory auditor, M/s. Chhajed & Doshi (FRN: 101794W), has resigned with immediate effect from June 13, 2025. The firm was appointed at the September 2024 AGM for a five-year term ending with the FY2029-30 AGM, meaning this is a midterm exit. The reason given is commercial: under RBI rules, an audit firm can audit a maximum of 8 NBFCs at a time, and Chhajed & Doshi is already at that cap including VJTF. They cited higher fees available from other NBFC audit opportunities. The auditor confirmed there are no management-imposed limitations, no information gaps, and no other material reasons for quitting. Their last submitted report was for the financial results of March 31, 2025. The company has not yet announced a replacement auditor.
Short-term, this is a routine regulatory disclosure with no governance red flags since the auditor explicitly stated no issues with the company or its books. However, shareholders should watch for the timely appointment of a new statutory auditor to avoid any delays in the FY25-26 audit cycle.