Resignation of Statutory Auditor of the Company

Auditor Resigned MidtermManagement Changes View source PDF Explain this filing

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Nifty Microcap 250market · in no size index; the smallest one is used+0.3%+20.1% vs market

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On the reaction day the stock moved 20.1 pts more than Nifty Microcap 250 and 21.2 pts more than its Education peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

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.

Likely market impact

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.