Event Summary
Apollo Finvest (India) Limited has formally received and submitted the resignation letter from M/s. SGGS & Associates, Practicing Company Secretaries, who were serving as the Secretarial Auditor of the company.
Resignation Details
- Resigning Entity: M/s. SGGS & Associates, Practicing Company Secretaries
- Effective Date: August 14, 2026
- Reason for Resignation: Disagreement over commercial arrangements and fee structure that had not been revised for the past three years
- Appointment Origin: Originally appointed by shareholders at the Annual General Meeting held on September 18, 2025
Communication Timeline
- August 12, 2026: SGGS & Associates sent email regarding nominal increase in Secretarial Audit Fee
- August 13, 2026: Company responded to the email
- August 14, 2026: SGGS & Associates tendered resignation via email
- August 15, 2026: Company formally submitted resignation letter to stock exchange
Stated Reasons for Resignation
The Secretarial Auditor cited reassessment of their ability to continue due to:
- Increasing scope of work
- Statutory responsibilities to safeguard stakeholder and shareholder interests
- Alignment with firm's brand positioning
- Commercial terms that had not been revised for three years
Financial Impact
Financial impact not quantified in the disclosure. The resignation appears to be primarily related to commercial terms and fee structure disagreements.