GALLANTT ISPAT LIMITED

Key Event Details

M/s. Maroti & Associates, Chartered Accountants (Firm Registration No. 322770E) tendered their resignation as Statutory Auditors of Gallantt Ispat Limited via resignation letter dated July 21, 2026. The Board of Directors noted and accepted this resignation at their meeting held on July 27, 2026.

Resignation Effective Date

The resignation became effective from the conclusion of the Board meeting held on July 27, 2026 (close of business hours).

Auditor's Tenure and Background

The auditors were appointed for a 5-year term from Financial Year 2022-23 to Financial Year 2026-27 at the Annual General Meeting held on September 29, 2022. They had completed the statutory audit for the financial year ended March 31, 2026 and issued their audit report on May 6, 2026.

Reasons for Resignation

The auditor cited the following reasons in their resignation letter: "Considering our firm's present resource allocation, professional commitments, our priorities, the commercial consideration and its complexity, we have decided to discontinue the audit engagement." The letter specifically mentioned that the scale and complexity of the audit had increased considerably over the years.

Regulatory Compliance and Completion of Duties

The auditors issued their limited review report for the quarter ended June 30, 2026 on July 27, 2026, in compliance with Para 6(4)(ii) of SEBI circular No. CIR/CFD/CMD/11-4/2019 dated October 18, 2019, prior to their resignation.

Company's Response and Review Process

The Audit Committee reviewed the circumstances of resignation and aligned with the reasons stated in the resignation letter. The Board noted that there were no reasons other than those mentioned in the resignation letter for such resignation. The auditor confirmed they have neither any sort of dispute nor any concern relating to suppression of information by the management.

Auditor's Declaration

The auditor confirmed that the information provided is correct and complete, and that there is no other material reason for resignation beyond those provided. They also stated they will be forwarding copy of AoT-3 to be filed with the Registrar of Companies as required under the Companies Act, 2013.

Financial Impact

No financial impact quantified in the disclosure.