Key Event: Appointment of Statutory Auditors
Viji Finance Limited is seeking shareholder consent through a postal ballot process to appoint M/s. DDS & Associates, Chartered Accountants (Firm Registration Number 120362W), as the company's Statutory Auditors. This appointment is to fill a casual vacancy caused by the resignation of the previous auditors, M/s. Dharmendra K. Agarwal & Co., Chartered Accountants (Firm Registration No. 025525C).
Resignation of Previous Auditor
M/s. Dharmendra K. Agarwal & Co. tendered their resignation effective 22nd August, 2026. The principal reason cited for resignation was the geographical distance between the auditor's office and the company's place(s) of operations, which made regular visits and resource allocation increasingly difficult. The resigned auditors had completed the limited review of the company's financial results for the quarter ended 30th June 2026 and have undertaken to extend all necessary co-operation, including the handing over of audit working papers to the incoming auditors as per SEBI Circular No. CIR/CFD/CMDl/114/2019 dated October 18, 2019.
Board Recommendation and Process
The Board of Directors, at its meeting held on 2nd September, 2026, and based on the recommendation of the Audit Committee, recommended the appointment of M/s. DDS & Associates. This appointment is subject to shareholder approval within three months of the Board's recommendation, as required by Section 139(8)(i) of the Companies Act, 2013. The appointed auditor will hold office until the conclusion of the next Annual General Meeting (to be held in calendar year 2027) and will conduct the statutory audit for the financial year ending 31st March, 2027.
Terms of Appointment and Remuneration
The proposed fee payable to M/s. DDS & Associates for the financial year 2026-27 is ₹2.00 Lakhs (Rupees Two Lakhs only) plus reimbursement of out-of-pocket expenses. Remuneration for subsequent years shall be determined based on the recommendation of the Audit Committee and as mutually agreed between the Managing Director and the Statutory Auditors.
The terms and conditions of the appointment will include those mentioned in Clauses 6A & 6B of SEBI Circular No. CIR/CFD/CMDl/114/2019 dated October 18, 2019. M/s. DDS & Associates have provided confirmation that their appointment would be within the limits prescribed under the Companies Act, 2013 and that they satisfy the criteria under section 141 of the Act. They are a peer-reviewed firm.
Credentials of Proposed Auditor
M/s. DDS & Associates is a Peer Reviewed Chartered Accountants firm based in Ahmedabad, Gujarat. Their major practice areas include Audit & Assurance, Income Tax, GST, Company Law Matters, Corporate Advisory, and NCLT Matters. The firm is empanelled with the Comptroller and Auditor General (CAG) under Empanelment No. WR3752 since 2009-10, with the MEF [RBI] under Empanelment No. 81367 since 2007-08, and with the Official Liquidator, Gujarat High Court since 2008-09. The firm has also served as a Branch Statutory Auditor (SBA) from 2019-20 to 2023-24.
Postal Ballot and E-Voting Details
The postal ballot notice is being sent only through electronic mode to members whose email addresses are registered with the company/RTA or depository as of the cut-off date, Friday, 16th October 2026.
Remote E-Voting Period:
- Commencement: 9:00 a.m. (IST) on Monday, 26th October 2026
- End: 5:00 p.m. (IST) on Tuesday, 24th November 2026
Cut-off Date for determining voting rights: Friday, 16th October 2026. Voting rights are one vote per equity share.
The company has engaged Central Depository Services India Limited (CDSL) to provide the remote e-voting facility. The notice is hosted on the company's website (www.vijifinance.com) and on CDSL's website (www.evotingindia.com).
Scrutinizer and Result Declaration
Mr. L.N. Joshi, Practicing Company Secretary, Indore (Membership Number F-5201, Certificate of Practice Number 4216), has been appointed as the Scrutinizer to conduct the postal ballot process.
The scrutinizer will submit a report to the Chairman after the voting period. The result of the postal ballot will be announced by the Chairman or Company Secretary on or before Thursday, 26th November 2026. The result, along with the scrutinizer's report, will be displayed on the company's website, the websites of the stock exchanges (BSE, NSE, CSE), and the CDSL website.
The resolution, if approved by the requisite majority, shall be deemed to have been passed on the last date of remote e-voting, i.e., Tuesday, 24th November 2026.