Resignation of Statutory Auditor of the company
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Chandabhoy & Jassoobhoy, Chartered Accountants (FRN: 101648W) has resigned as the Statutory Auditor of Welcure Drugs & Pharmaceuticals Ltd with effect from close of business hours on 21 August 2025. The reason given is that the management did not agree to an increment in statutory audit fees. The auditor had been appointed on 30 September 2024, with its term originally running until the 37th Annual General Meeting in 2028-2029, making this a mid-term exit. The latest audit report was submitted on 5 August 2025, just weeks before the resignation. The disclosure was signed by Chintan Didawala Ganpat, Managing Director & CFO, in line with SEBI LODR Regulation 30 requirements.
A mid-term auditor resignation, even over a fee dispute, is a governance red flag that retail investors should watch closely. The company now needs to appoint a new statutory auditor quickly to avoid any disruption to its audit cycle and regulatory compliance.