Lakhotia Polyesters (India) Limited has submitted a regulatory disclosure to BSE Limited regarding the resignation of its statutory auditors.
Auditor Resignation Details
The company's statutory auditors, M/s. Sharp Aarth & Co LLP, Chartered Accountants (Firm Registration No. 132748W/W100823), have tendered their resignation effective immediately on July 22, 2026. The resignation was communicated via letter dated July 22, 2026.
Reason for Resignation
The auditors cited pre-occupation with other professional commitments and administrative reasons as the basis for their inability to continue. In the detailed annexure, they further elaborated that the resignation was due to "increased professional commitments, resource constraints and administrative reasons," which prevented them from allocating adequate time and resources to effectively discharge their responsibilities.
Auditor Tenure and History
The auditor was originally appointed on April 1, 2022, with a term scheduled to expire on March 31, 2027. Their most recent work for the company was a limited review report submitted on July 17, 2026, just five days prior to the resignation.
Auditor Confirmation
The auditor explicitly confirmed that:
- There were no concerns that led to the resignation (Item 5: Not Applicable)
- There was no inability to obtain sufficient appropriate audit evidence due to management limitations (Item 6a: Not Applicable)
- The lack of information would not have significant impact on financial statements/results (Item 6b: Not Applicable)
- No alternative procedures were needed under SA 705 (Item 6c: Not Applicable)
- The lack of information was not prevalent in previous financial statements/results (Item 6d: Not Applicable)
- There are no other material reasons for the resignation beyond those stated
Financial Impact
The disclosure does not quantify any financial impact of the auditor resignation.