Statutory auditor GMK & Co. resigns citing pre-occupation; audit committee reports no adverse concerns

The company has informed the exchange that its Statutory Auditor, M/s. GMK & Co., has resigned.

Sat 10 Oct 2026

Auditor Resignation Date

Resignation letter dated 09 October 2026, with immediate effect

Reason Stated

pre-occupation

Audit Scope

limited review report for the quarter ended 30th June 2026 completed before ceasing

What the update says

• M/s. GMK & Co., Chartered Accountants (ICAI FRN No.: S200357), has resigned as the Statutory Auditor of Ajel Limited.
• The resignation letter is dated 09th October 2026 and the company has sought acceptance of the resignation with immediate effect.
• The resignation covers Financial Year 2026-27.
• The reason stated in the letter is pre-occupation.

What the Audit Committee noted

• No adverse concerns, disagreements or limitations on scope were reported by the auditors in connection with the resignation.
• The reasons stated in the resignation letter were considered satisfactory and convincing.
• The Committee confirmed that the auditors completed the limited review report for the quarter ended 30th June 2026 before their cessation.
• The Audit Committee and the Board of Directors noted that there are no other reasons beyond those mentioned in the resignation letter.

What happens next

• The company states that necessary steps are being taken to appoint another auditor in the resultant casual vacancy, and this will be intimated in due course.

How a retail investor can read this

An auditor is the outside party that reviews a company's accounts, so a change of auditor is an event investors generally track closely. Here, the company has disclosed the reason given by the auditor as pre-occupation, and the Audit Committee has placed on record that the resignation came without adverse concerns, disagreements or scope limitations.

The company has also stated that the limited review for the quarter ended 30th June 2026 was completed before the auditor ceased, and that a replacement is being arranged for the vacancy created. Those are the facts disclosed in this update.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.