Garbi Finvest Limited filed a revised intimation with BSE Limited and The Calcutta Stock Exchange Ltd regarding the resignation of its statutory auditor, M/s Kushal S. Poonia & Co., Chartered Accountants (Firm Registration Number: 156576W). The resignation was submitted pursuant to Regulation 30 read with Para A(7) and Para A(7A) of Part A of Schedule III of the SEBI Listing Regulations and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026.

The statutory auditor resigned due to non-payment of professional fees payable to them in respect of audit, which remained outstanding despite becoming due and payable. The resignation letter was dated 30th October 2026 and was received by the Company via email on 3rd November 2026.

The resignation will be placed before the Audit Committee and the Board of Directors at their respective meetings to be held on 13th November 2026. The resignation shall take effect upon completion and issuance by the statutory auditor of the Limited Review Report for the quarter ended 30th September 2026, as required under SEBI Circular No. CIR/CFD/CMD1/114/2019 dated October 18, 2019, since the resignation was tendered within 45 days from the end of that quarter.

The views of the Audit Committee will be disclosed to the exchanges within twenty-four hours of its meeting. The vacancy will be filled within thirty days in accordance with Section 139(8)(i) of the Companies Act, 2013, and the exchanges will be duly intimated.

Details from Annexures

Annexure A (Details under Para A(7) of Part A of Schedule III):

  • Reason for change: Resignation due to non-payment of professional fees.
  • Date of resignation letter: 30th October 2026 (received by Company on 3rd November 2026).
  • Date of cessation: Upon completion and issuance of the Limited Review Report for the quarter ended 30th September 2026, subject to applicable regulatory requirements.

Annexure B (Information from Statutory Auditor):

  • Auditor was appointed on 20th August 2024, with term scheduled to expire at the conclusion of the 45th AGM in 2027.
  • Latest audit report was for FY 2025-26 as on 31st March 2026; latest limited review report was for quarter ended 30th June 2026, submitted on 13th August 2026.
  • Detailed reason for resignation: Non-payment of professional fees.
  • Auditor had made several reminders for outstanding dues and follow-ups.
  • Inability to obtain sufficient audit evidence was due to circumstances beyond management's control, and this lack of information would have a significant impact on financial statements, as referenced in the Independent Auditor's Report on Annual Results for the quarter and year ended 31 March 2026, dated 30 May 2026.
  • Alternative procedures were performed as per SA 705 (Revised), and the lack of information was prevalent in previous financial statements, as noted in limited review reports for previous quarters.
  • No other material reasons for resignation.

Additional Correspondence

An initial intimation was filed with BSE on 4th November 2026, and a follow-up email from the auditor was sent on 3rd November 2026 attaching the resignation letter.

Financial Impact

Financial impact not quantified in the disclosure, but the auditor confirmed that non-payment of fees and lack of information had a significant impact on financial statements.