Garbi Finvest Limited has submitted a regulatory disclosure to BSE Limited and The Calcutta Stock Exchange Ltd regarding the resignation of its statutory auditor.

The resignation was tendered by M/s Kushal S. Poonia & Co., Chartered Accountants (Firm Registration Number: 156576W) due to non-payment of professional fees payable to them by the Company in respect of audit services. The fees remained outstanding despite becoming due and payable.

The resignation letter was dated October 30, 2026, and was received by the Company via email on November 3, 2026. The resignation will be placed before the Board of Directors at its meeting scheduled for November 13, 2026, for noting.

The resignation shall take effect upon completion and issuance of the Limited Review Report for the quarter ended September 30, 2026, subject to applicable regulatory requirements. As the resignation was tendered within 45 days from the end of the quarter ended September 30, 2026, the statutory auditor is required to issue the Limited Review Report for that quarter before the resignation takes effect, as per SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026.

The Audit Committee will deliberate on the resignation and the reasons stated therein, and its views will be disclosed to the Exchanges not later than twenty-four hours after the Audit Committee meeting.

The Company shall fill the vacancy in the office of Statutory Auditor in terms of Section 139(8)(i) of the Companies Act, 2013, by appointment by the Board of Directors on the recommendation of the Audit Committee under Section 177(4)(i) of the Companies Act, 2013 read with Regulation 18(3) of the SEBI Listing Regulations. This appointment must occur within thirty days of the vacancy, subject to approval of the members at a general meeting convened within three months of the recommendation of the Board.

Annexure Details

The disclosure includes Annexure A with details required under Regulation 30 read with Para A of Part A of Schedule III of the SEBI Listing Regulations and SEBI Master Circular HO/49/14/14(7)2025-CFD-No. POD2/I/3762/2026, which specifies:

  • Reason for change: Resignation due to non-payment of professional fees
  • Date of resignation letter: October 30, 2026 (received November 3, 2026)
  • Date of cessation: Upon completion and issuance of Limited Review Report for Q2 September 2026

Annexure B contains a copy of the resignation letter from M/s Kushal S. Poonia & Co., and Annexure C includes the information furnished by the Statutory Auditor in the format specified in the SEBI Master Circular.

Financial Impact

The disclosure indicates outstanding professional fees payable to the auditor, but the specific amount remains unquantified in the provided document.