Regulation, Compliance & Legal › Sub-category
Auditor Resignation / Qualification
23 articles
A wave of auditor resignations is impacting Indian companies, raising concerns about corporate governance and financial oversight. Several firms, including Rajeshwari Cans, Advik Capital, Maxgrow India, RO Jewels, and Gujarat Raffia, have seen their statutory auditors step down, often citing fee disputes or increased professional commitments. Simultaneously, Indrayani Biotech reported a qualified audit opinion due to unconfirmed loan balances and accounting discrepancies, while Jindal Poly Films faced auditor scrutiny over subsidiary inventory and interest income. These developments underscore the importance of robust audit processes and transparent financial reporting, and may prompt investors to reassess risk profiles and demand greater clarity from management regarding these transitions.
Rajeshwari Cans Statutory Auditor Resigns August 2026
Rajeshwari Cans Limited's statutory auditor M/S Shivam Soni & Co. resigned effective 17 August 2026 due to personal commitments.
The auditor had been appointed on 30 September 2024 with a term schedul
Indrayani Biotech FY26 Results with Qualified Audit Opinion
Board approved audited standalone and consolidated financial results for Q4 and year ended March 31, 2026, filed under SEBI Regulations 30 and 33.
Auditors issued qualified opinion due to unconfirmed
Advik Capital Statutory Auditor Resigns Over Fee Dispute
KSMC & Associates resigned as Advik Capital's statutory auditor effective August 15, 2026, citing inadequate professional fees.
The auditor stated the fee structure was unsustainable given the time an
Maxgrow India Auditor Resigns, Approves Q1 FY27 Results
Maxgrow India's Board approved Q1 June 2026 standalone and consolidated unaudited financial results.
Statutory auditor R.B. Jain & Associates resigned effective August 14, 2026, citing preoccupation w
RO Jewels Statutory Auditor Resigns August 2026
RO Jewels Ltd statutory auditor Shah Karia & Associates resigned effective 14 August 2026 citing personal reasons.
The resigning auditor confirmed no concerns regarding company affairs or management r
Jindal Poly Films Q1 Net Loss ₹9.5 Crore on Subsidiary Provisions
Jindal Poly Films reported Q1 FY27 standalone net loss of ₹9.5 crore due to ₹22.4 crore provision for subsidiary loans.
Consolidated results showed net profit of ₹107.2 crore despite audit qualificati
Gujarat Raffia Statutory Auditor Resigns
Gujarat Raffia Industries' statutory auditor KPSJ & Associates LLP resigned effective 14 August 2026 due to increased professional commitments.
The resignation was received on 14 August 2026 with the
LCC Infotech Q1 FY27 Net Loss of ₹12.18 Lakh
LCC Infotech reported a standalone net loss of ₹12.18 lakh for Q1 FY27, with zero revenue from operations.
The company's statutory auditor, V Jalan & Co, resigned effective immediately due to pre-occu
Kavveri Defence Q1 Net Loss Rs 152 Lakh Standalone
• Kavveri Defence reported Q1 FY27 standalone net loss of Rs 152.20 lakh versus profit of Rs 93.24 lakh YoY.
• Consolidated results showed Q1 net loss of Rs 121.10 lakh with revenue decline to Rs 144.
GVP Infotech Q1 Net Profit Rs 3.67 Cr on Deposit Write-Back
GVP Infotech reported Q1 FY27 standalone net profit of Rs 3.67 crore, a significant turnaround from a Rs 2.02 crore loss in Q4 FY26, driven by a Rs 4.95 crore deposit write-back.
Revenue from operatio
Aditya Forge Q1 FY27 Net Loss ₹1.49 Lakh
Aditya Forge reported Q1 FY27 unaudited standalone net loss of ₹1.49 lakh with zero revenue from operations.
Board approved unaudited financial results for quarter ended June 30, 2026, and draft Direc
City Online Services Q1 Loss at ₹18.73 Lakhs; Explores Divestment
• Board approved unaudited Q1 FY27 financial results, reporting a net loss of ₹18.73 lakhs and negative net worth of ₹73.46 lakhs.
• Directors in-principle approved exploring strategic sale/divestment
Kitex Garments Q1 FY27 Results and ₹3000 Crore Fundraise
Kitex Garments reported Q1 FY27 standalone revenue of ₹12,101.08 lakhs, down 38.5% YoY, with net profit of ₹1,115.90 lakhs.
Board approved raising up to ₹3,000 crores via QIP or other securities issua
Halder Venture Q1 FY2027 Results with Auditor Qualifications
Halder Venture reported Q1 FY2027 standalone revenue of ₹18,000.60 lakhs, up 68.7% YoY, with net profit of ₹561.13 lakhs.
Auditors qualified results over ₹3,898.39 lakhs non-moving rice inventory and
Halder Venture Q1 FY27 Standalone Profit Up 43% YoY
Halder Venture Board approved Q1 FY27 unaudited results, with standalone net profit rising 43% YoY to ₹561.13 lakhs.
Statutory auditors issued a qualified review, noting potential overstatement of ₹66
Khyati Multimedia Q1 FY27 Net Loss ₹4.22 Lakh
Khyati Multimedia reported a standalone net loss of ₹4.22 lakh for Q1 FY27, compared to a net loss of ₹2.69 lakh in the year-ago quarter.
Auditors issued a limited review report with multiple qualific
Sadbhav Engineering Q1 FY27 Net Loss ₹973 Lakh
• Board approved Q1 FY27 unaudited results with standalone net loss of ₹973.49 lakh and consolidated net profit of ₹4,610.01 lakh.
• Statutory auditors issued a qualified review report citing uncertai
Madhucon Projects Q1 FY27 Results with Qualified Audit
Board approved unaudited standalone and consolidated financial results for Q1 FY27, reporting a standalone net profit of ₹36.48 lakhs.
Appointed Mr. Shankara Rao Kadambala as Independent Director and
Oswal Greentech Auditor Resigns Over Fee Disagreement
Mehta Chokshi & Shah LLP resigned as statutory auditor of Oswal Greentech Limited effective August 11, 2026 due to non-approval of their audit fee proposal.
The resignation is attributed solely to a b
Vashu Bhagnani Auditor Resigns Over Fee Disagreement
Vashu Bhagnani Industries' statutory auditor, D S M R & Co, resigned effective 13th August 2026.
Resignation was due to an inability to agree on a fee structure that supports increased compliance requ
Asian Hotels Q1 Net Profit at ₹5.30 Crore
Board approved unaudited standalone Q1 FY2027 net profit of ₹5.30 crore and consolidated net profit of ₹4.32 crore.
Auditors issued qualified opinion due to non-provisioning for impairment of ₹13.44 c
Arigato Universe Auditor Resigns Over Fee Disagreement
M/s. Bagdia & Company resigned as statutory auditor of Arigato Universe effective 13th August 2026.
Resignation was due to management's rejection of proposed audit fee revision for increased scope.
Au
Sharp India Statutory Auditor G.D. Apte Resigns
G.D. Apte & Co. resigned as statutory auditors of Sharp India Limited effective August 13, 2026.
The auditor cited pre-occupancy and professional commitments as reasons for resignation.
The firm compl