Nature of the Event

Resignation of Statutory Auditor M/s. O. P. Rathi & Co., Chartered Accountants (Firm Registration No. 108718W) from Shayona Engineering Limited pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015.

Key Dates

  • Resignation Date: November 05, 2026 (effective immediately)
  • Receipt by Company: November 06, 2026
  • Audit Committee and Board Meeting: November 06, 2026
  • Original Appointment Date: September 25, 2026
  • Scheduled Term Expiry: Conclusion of Annual General Meeting in 2031

Parties Involved

  • Resigning Auditor: M/s. O. P. Rathi & Co., Chartered Accountants
  • Auditor Address: 4th Floor, 4th Block, 73 East Avenue, Sarabhai Campus, Vadodara - 390 007, Gujarat, India
  • Auditor Contact: Phone 0265 238 7757, Email ruchi.rathi@oprathi.in
  • Company Address: Shed No 113/1, GIDC, Makarpura, M.I. Estate, Vadodara, Gujarat, India, 390010
  • Company Representative: Vipul Solanki, Managing Director (DIN: 07722506)

Detailed Reason for Resignation

The auditor cited existing professional commitments and pre-occupation with other professional assignments, resulting in constraints in allocating adequate professional time and resources required to effectively discharge statutory audit responsibilities. The resignation was based solely on commercial, professional, and resource-allocation considerations.

Key Confirmations from Auditor

  • No issues relating to non-availability of information
  • No lack of cooperation from the management
  • No fraud or suspected fraud requiring reporting
  • No other material reason for resignation
  • Reasons were communicated to and discussed with management prior to resignation

Company Response

The Audit Committee and Board of Directors noted the resignation at their respective meetings held on November 06, 2026. The company is taking necessary steps to fill the casual vacancy in accordance with Section 139(8) of the Companies Act, 2013, and will intimate the stock exchange about the new statutory auditor appointment as per applicable provisions.

Financial Impact

No financial impact quantified in the disclosure. The resignation is administrative in nature with no immediate financial consequences disclosed.