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M/s. H.G. Sarvaiya & Co, Chartered Accountants, has resigned as statutory auditor of Zodiac-JRD-MKJ Ltd with effect from 13 November 2025. The auditor's original term was scheduled to run until 31 March 2029, making this a mid-term exit roughly 19 months into a 5-year term. The reason cited is a change in corporate structure and limitation in scope of audit engagement. The auditor had just submitted the limited review report for Q2 and H1 FY26 on 12 November 2025, and has stated there are no concerns about management. The company's Audit Committee and Board will appoint a new statutory auditor to fill the casual vacancy, with no further disclosure on Audit Committee deliberations required as no concerns were flagged.
The auditor's resignation before the end of their term, combined with vague reasons around 'change in corporate structure' and 'limitation in scope,' may raise minor governance questions for shareholders, though the company emphasizes no concerns were raised. Investors should watch for the timely appointment of a replacement auditor, as a prolonged vacancy could affect audit timelines and reporting. The relatively small size of this company and the routine nature of auditor changes in SME-listed firms may limit broader market reaction.