Resignation Details for Shivalik Engineered Products Private Limited

  • Reason for Change: Resignation effective August 6, 2026.
  • Date of Appointment: August 1, 2022, for a term of 5 years.
  • Latest Work Completed: Statutory audits completed for financial years up to March 31, 2026. Limited Review of unaudited standalone financial results for the quarter ended June 30, 2026, submitted on August 06, 2026.

Resignation Details for Shivalik Bimetal Engineers Private Limited

  • Reason for Change: Resignation effective August 6, 2026.
  • Date of Appointment: June 27, 2022, for a term of 5 years.
  • Latest Work Completed: Statutory audits completed for standalone and consolidated financial statements up to March 31, 2026. Limited Review of unaudited standalone and consolidated financial results for the quarter ended June 30, 2026.

Reasons for Resignation (As per Auditor's Letters)

The auditor, M/s Arora Gupta & Co., cited identical reasons for resigning from both subsidiaries:

  • Since becoming wholly-owned subsidiaries of the listed entity Shivalik Bimetal Controls Limited, the companies have witnessed significant growth in scale and complexity of operations.
  • Enlarged applicability of accounting standards and compliances, including regulations applicable to listed companies.
  • Substantial increase in the scope, volume, and resource requirements for conducting the statutory audit.
  • Inability to continue due to existing professional commitments and practical difficulty in deploying adequate audit resources commensurate with the expanded requirements.

Auditor Confirmations

For both subsidiaries, the auditor confirmed in their resignation letters that:

  • The resignation is solely due to the stated reasons and does not arise from any disagreement with management or the Board.
  • No fraud, suspected fraud, material irregularity, or any matter involving management that should be brought to the attention of shareholders or regulators was identified or reported.
  • No concerns relating to financial statements, accounting policies, internal financial controls, management representations, maintenance of books of account, or any other matter requiring disclosure under the Companies Act, 2013 or SEBI Listing Regulations.

Financial Impact

No financial impact is quantified in the disclosure. The auditor's resignation is effective immediately, and the companies will need to appoint new statutory auditors.