Nature of the Event

Croissance Limited (Scrip Code: 531909) has intimated the BSE Limited about the resignation of its statutory auditors, M/s. YCRJ & Associates, effective July 31, 2026. The disclosure is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Key Details and Quantitative Figures

  • Auditor Firm: YCRJ & Associates (Firm Registration No. 006927S)
  • Date of Resignation: July 31, 2026
  • Date of Appointment: November 14, 2024 (via shareholder resolution)
  • Scheduled Term End: Till the conclusion of the 35th Annual General Meeting (scheduled to end March 31, 2029)
  • Last Audit Completed: For the period ended March 31, 2026 (Audit Report dated May 26, 2026)
  • Outstanding Fees: Existence of unpaid audit fees disclosed as a contributing factor

Reasons for Resignation

The statutory auditors provided three detailed reasons for their resignation:

1. Outstanding Fees & Scope Expansion: Existing audit fees remain unpaid. Recent amendments to financial reporting and disclosure requirements necessitate additional audit procedures, making the current fee structure inadequate for the expanded workload.

2. Resignation of Engagement Partner: The audit partner handling this assignment has resigned from the firm.

3. Geographical Relocation & Business Expansion: The company's ongoing business expansion and geographical relocation of operations have made it difficult to carry out audit procedures as per the company's expectations.

Parties Involved

  • Listed Entity: Croissance Limited (CIN: L11019KA1994PLC103470)
  • Statutory Auditor: YCRJ & Associates, Chartered Accountants
  • Signatory for Company: Sravan Prabhakar Veledandi, Managing Director (DIN: 02757599)
  • Signatory for Auditor: CA. Ramesh Angadi, Partner (Membership No.: 234143)

Regulatory References and Compliance

  • SEBI (LODR) Regulations, 2015: Regulation 30
  • SEBI Master Circular No.: SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024
  • Standards on Auditing and Standards on Quality Control issued by ICAI
  • The company has complied with the disclosure requirements by submitting the detailed annexure as specified in the SEBI Master Circular.

Additional Information

  • The auditor confirmed they have completed all statutory audit assignments up to March 31, 2026.
  • The auditor stated there were no concerns requiring approach to the Audit Committee/Board of Directors prior to resignation.
  • The auditor declared no other material reasons for resignation beyond those stated.
  • The financial impact of the auditor change is not quantified in the disclosure.