Reason for Resignation
The resignation is consequent to the Company's transition from the NBFC-Base Layer to the NBFC-Middle Layer under the RBI's Scale Based Regulation framework. This transition requires compliance with the RBI (Non-Banking Financial Companies – Statutory Audit) Directions, 2026, which prescribe a maximum continuous tenure of three years for Statutory Auditors.
Auditor Tenure History
- Date of Appointment: August 22, 2019
- Scheduled Term Expiry: FY 2028-29
- Latest Report Submitted: Limited Review report for the period ended September 30, 2026, submitted on November 6, 2026
Additional Information
The auditor has confirmed:
- No concerns requiring approach to Audit Committee/Board prior to resignation
- No management-imposed limitations or circumstances affecting ability to obtain audit evidence
- No significant impact on financial statements due to lack of information
- No prevalence of information issues in previous financial statements
- No other material reasons for resignation beyond regulatory compliance requirements
Next Steps
The Audit Committee and Board of Directors will take note of the resignation in their upcoming meetings and initiate necessary steps to fill the casual vacancy in accordance with the Companies Act, 2013 and RBI Directions.
Declaration
The auditor has confirmed that all information provided is correct and complete, with no other material reasons for resignation.