Auditor certifies cash consideration received against preferential issue allotment
Audroc Ltd has shared a statutory auditor's certificate with BSE.
By ScoutQuest · · 1 min read
- Certifying auditor
- J.M. Patel & Bros., Chartered Accountants
- Certified fact
- Company received consideration in cash against the allotment of specified securities made under a preferential issue
- Source of funds
- Payment came from the bank accounts of the respective allottees
What the update says
The company has submitted a certificate from its statutory auditors, M/s. J.M. Patel & Bros., Chartered Accountants, to BSE Limited.
The certificate confirms that the company received consideration in cash against the allotment of specified securities made under a preferential issue. It also states that the payment came from the bank accounts of the respective allottees.
Where shares were applied for jointly, the consideration was received from the bank account of the person named first in the application.
Supporting records
- The company maintains documents evidencing receipt of consideration from allottees' bank accounts, including bank statements, payment confirmations and applications.
- These records were maintained as on the date of the certificate.
How to read this
- A preferential issue is an allotment of shares to a select set of investors rather than to the public.
- Rules require that such shares be paid for in cash, received from the allottee's own bank account, so the source of funds is traceable.
- The auditor's certificate is a confirmation that this payment condition was met.
What it does not do
- It does not announce a new issue, a new investor or a change in the company's business.
- It is a procedural confirmation tied to an allotment already made.
For a retail investor, this is a routine compliance disclosure. It confirms the payment side of a preferential allotment was completed as required, but on its own it carries no information about the company's operations, earnings or future plans.
Also from Audroc
Monitoring agency report shows no deviation in use of preferential issue proceeds
3 Nov 2026
Board approves Q2 results; auditor gives qualified opinion on Rs. 7,41,13,473 write-off against director's deposit
3 Nov 2026
Board meeting on 3 November 2026 to consider and approve Q2 and half-year unaudited results
29 Oct 2026
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