Siti Networks Appoints Vijaya Gupta as Statutory Auditor

SITI Networks Limited

Siti Networks Limited has made a disclosure to BSE Limited and National Stock Exchange of India Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

The company is currently undergoing a Corporate Insolvency Resolution Process (CIRP) pursuant to an order dated February 22, 2023, passed by the National Company Law Tribunal, Mumbai (NCLT). Mr. Rohit Mehra was appointed as the Interim Resolution Professional by the NCLT order and was subsequently confirmed as the Resolution Professional by the Committee of Creditors (CoC).

Consequent upon approval from the Committee of Creditors under Section 28(1)(m) of the Insolvency and Bankruptcy Code, 2016, the company has appointed M/s. Vijaya Gupta & Co., Chartered Accountants (Firm Registration No. 001314N), as its new Statutory Auditor. This appointment is effective from July 6, 2026.

The new auditor has been appointed to conduct the statutory audit for the financial years 2025-26 and 2026-27. They are also appointed to perform limited reviews for Q3 and Q4 of FY 2025-26 and for Q1 to Q4 of FY 2026-27.

M/s. Vijaya Gupta & Co. replaces M/s. DNS & Associates, Chartered Accountants, Gurugram, who have resigned from the position of Statutory Auditor of the company.

A brief profile of the new auditor was provided: Vijaya Gupta & Co. is a professionally managed Chartered Accountants firm established in 1977 with over 45 years of experience. The firm has extensive experience in handling large and complex assignments, particularly in banking, corporate, and regulatory domains, and is equipped to serve listed entities and large corporations.

The disclosure confirms that there is no relationship between the new auditor and any director of the company, noting that the powers of the directors are currently suspended.

The disclosure was signed by the Company Secretary and Compliance Officer (Membership No. ACS 14390) from the company's registered office at Unit No. 38, 1st Floor, A Wing, Madhu Industrial Estate, PB. Marg, Worli, Mumbai - 400 013.