M/s. Ritu Gupta & Co., Chartered Accountants (Firm Registration No. 119890W) resigned as statutory auditors effective August 13, 2026 (from close of business hours).
The resignation was communicated via letter dated August 13, 2026.
The audit committee and board approved the appointment of M/s. R. Verma & Associates, Chartered Accountants (Firm Registration No. 08026N) as new statutory auditors on the same day.
The new appointment is subject to shareholder approval at the upcoming 32nd Annual General Meeting.
Auditor Resignation Details
Reason for resignation: Preoccupation with other assignments and non-availability of audit staff, preventing adequate time devotion to the company's audit.
The resigning auditor confirmed completion of the limited review of financial results for the quarter ended June 30, 2026, with limited review report issued on August 13, 2026.
No material concerns raised regarding company management or operations.
No disagreements or pending issues with management disclosed.
No lack of cooperation from management reported.
New Auditor Appointment
M/s. R. Verma & Associates appointed to fill casual vacancy caused by resignation.
Term: From August 13, 2026 until conclusion of the upcoming 32nd AGM (pertaining to FY 2025-26), and subsequently for five consecutive years from conclusion of 32nd AGM until conclusion of 37th AGM in 2031.
Remuneration: To be determined by the board of directors (including any committee thereof) plus applicable taxes and reimbursement of out-of-pocket expenses.
Firm profile: Established in 1987 with over 40 years of experience, expertise in audit, due diligence, accounting standards, taxation, company law matters, management consultancy, assets verification, information system audit, and FEMA.
No relationships disclosed between the new auditors and company directors.
Governance Process
Audit committee and board meeting held on August 13, 2026, commencing at 11:50 AM and concluding at 12:20 PM.
No deliberation required by audit committee as no concerns were raised by resigning auditor.
No disclosure of audit committee's view deemed applicable.
