We wish to inform you that the board approved the resignation of Statutory Auditor.
Awaiting price reaction for this filing.
On August 12, 2025, Minolta Finance's board accepted the resignation of Managing Director Mr. Dinesh Kumar Patnia (DIN: 01709741), effective the same day, citing personal and professional commitments. Mr. Arvind Jethalal Gala, currently Group CFO at Inventure Growth and Securities Ltd, was re-appointed as Managing Director (by rotation) and additionally appointed as Non-Executive Chairman for FY 2025-26, subject to shareholder approval. The company also carried out a complete rotation of its auditors: Statutory Auditor M/s Khandelwal Prem & Associates resigned (citing preoccupation) and was replaced by M/s JCR & Co. LLP for five years (FY 2025-26 to 2029-30). The Internal Auditor (Mr. Sanjay Khandelwal) and Secretarial Auditor (Mr. Arun Kumar Jaiswal) were also replaced by M/s TRS & Co. and M/s Amruta Giradkar & Associates respectively. This is a comprehensive governance overhaul done in a single board meeting.
For shareholders, the key change is a new Managing Director/Chairman with external finance-sector experience replacing the outgoing MD, which could shift strategic direction. The simultaneous rotation of all three auditors (statutory, internal, secretarial) is unusual and may warrant monitoring for any underlying governance reasons, though on the surface the changes appear routine.