M/s Mahesh Udhwani & Associates, Chartered Accountants (Firm Registration No. 129738W), tendered their resignation as Statutory Auditors of the Company effective May 14, 2026. The resignation letter dated May 14, 2026, cited their inability to continue due to "non-receipt of the required information, records, and supporting documents in a timely manner despite repeated requests," which constrained them from discharging their professional responsibilities satisfactorily.
The company acknowledged a delay in submitting this disclosure to BSE Limited, attributing it to "an inadvertent and unintentional administrative oversight" with absolutely no intention to withhold material information from shareholders, investors, or the Stock Exchange.
Auditor Details and Tenure
- Auditor Firm: M/s Mahesh Udhwani & Associates, Chartered Accountants (FRN: 129738W)
- Address: 3rd Floor, Satyam Building, Opp. Old Vuda Office, Fatehgunj, Vadodara - 390 002, Gujarat, India
- Contact: +91 8758756360, mahesh@maheshudhwani.com
- Initial Appointment: August 23, 2021, to conclusion of AGM held in 2023
- Reappointment: Approved at 40th AGM on September 2, 2023, spanning from conclusion of 40th AGM until conclusion of 43rd AGM in 2026
- Scheduled Term Expiry: September 30, 2026
- Latest Audit Work: Submitted audit reports dated May 29, 2026 on the company's standalone financial statements and financial results for year ended March 31, 2026
Next Steps
The Company shall take necessary steps to appoint a new Statutory Auditor to fill the casual vacancy caused by this resignation, which will be intimated to the Stock Exchange in due course. This information will also be made available on the Company's website www.miflindia.com.
#Tags: #MangalamIndustrialFinance #AuditorResignation #SEBIDisclosure #RegulatoryCompliance #GovernanceIssue