Key Event

M/s. Mehta Chokshi & Shah LLP, Chartered Accountants (Firm Registration No: 106201W/W100598) have resigned as the Statutory Auditor of Oswal Greentech Limited.

Effective Date

The resignation is effective from the closing working hours of August 11, 2026.

Reason for Resignation

The resignation is due to "constraints relating to audit fees." Specifically, the auditor had submitted a fee proposal for the financial year FY 2026-27 along with the scope of audit work, which was not approved by the company. The auditor stated that in the absence of agreed and adequate remuneration commensurate with the scope, effort, and professional responsibility involved, they are unable to continue.

Additional Context

  • The auditor was appointed pursuant to a resolution passed by members at the Annual General Meeting held on September 25, 2025, in accordance with Section 139 of the Companies Act, 2013.
  • The auditor's term was scheduled to expire on March 31, 2030.
  • The last report submitted by the auditor was the limited review report for the quarter ended June 30, 2026, submitted on August 7, 2026.
  • The auditor explicitly stated there are no other reasons, facts, or circumstances connected with the resignation that need to be brought to the attention of members or creditors.
  • No concerns were raised with the Audit Committee/Board of Directors prior to resignation.

Regulatory Requirements

The resignation is tendered pursuant to Section 140(2) of the Companies Act, 2013 read with Rule 8 of the Companies (Audit and Auditors) Rules, 2014. The auditor will file the statement of resignation in Form ADT-3 with the Registrar of Companies within thirty (30) days from August 11, 2026.

Company Obligations

The company must take necessary steps for appointment of a new Statutory Auditor in accordance with the provisions of the Companies Act, 2013, including filling of the casual vacancy in accordance with Section 139(8) of the Act.

Financial Impact

No specific financial impact quantified in the disclosure. The resignation arises from a fee disagreement rather than accounting or financial reporting issues.

Documents Submitted

The filing includes the resignation letter and details as required under Regulation 30 read with Schedule III of the Listing Regulations, and SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 and SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

#Tags: #OswalGreentech #AuditorResignation #SEBIDisclosure #RegulatoryCompliance #GovernanceUpdate #Neutral