Key Event Details
M/s. Piyush Kothari & Associates, Chartered Accountants (Firm Registration Number: 140711W), tendered their resignation as Statutory Auditors of Exhicon Events Media Solutions Limited effective June 30, 2026. The resignation was received by the company on the same date.
Reason for Resignation
The auditor cited that "the professional effort and resources required for auditing a listed company have increased significantly over time, while the audit remuneration remains commercially unviable" as the sole reason for resignation.
Auditor Confirmations
The resigning auditor confirmed several key points:
- They have completed the statutory audit of both standalone and consolidated financial statements for the financial year ended March 31, 2026.
- The audit report was issued on May 18, 2026.
- There are no other material reasons for resignation beyond the stated commercial viability issue.
- No concerns regarding management limitations in obtaining audit evidence or any significant impact on financial statements.
- No prior communications with the Audit Committee or Board of Directors regarding concerns before resignation.
Auditor Tenure Details
The auditor was originally appointed on November 10, 2022, with the term scheduled to expire on March 31, 2027. The resignation therefore occurs approximately nine months before the scheduled end of the term.
Company Response and Next Steps
The company's Audit Committee and Board of Directors will formally note the resignation in their upcoming meetings. The company will take necessary steps to fill the casual vacancy created by the resignation.
Financial Impact
Financial impact not quantified in the disclosure. The resignation occurs after completion of the FY26 audit, suggesting no immediate impact on already-reported financial statements.