Fynx Capital507962Auditor resignation (mid

Statutory auditor N. C. Vaishnav & Co. resigns, will not audit FY 2026-27

N. C. Vaishnav & Co. (FRN 112712W) has resigned as statutory auditor of Fynx Capital Ltd, effective 26 October 2026.

By ScoutQuest · Tue 27 Oct 2026, 11:54 AM IST · 2 min read

Resignation effective date: 26 October 2026
Appointment tenure: Appointed at the AGM on 27/09/2024 for a term of 5 years
Pending audit/review work: Audit for FY ended 31 March 2026 and limited reviews for quarters ended 30 June 2026 and 30 September 2026 are complete; no pending work

What happened

M/s. N. C. Vaishnav & Co., Chartered Accountants (ICAI Firm Registration No. 112712W), has resigned as the statutory auditor of Fynx Capital Limited (formerly Rajath Finance Limited). The resignation letter is dated October 26, 2026, and takes effect from 26 October 2026. The company intimated the exchange on October 27, 2026.

Why the auditor resigned

The letter cites the firm's existing professional commitments and capacity constraints for the forthcoming audit period as the reason it could not continue as statutory auditor. The firm also states that, other than this reason, there are no circumstances connected with the resignation that it considers should be brought to the notice of the members or creditors of the company. Annexure A records the detailed reason as resignation due to pre-occupation in other assignments.

Work completed before the resignation

The statutory audit for the financial year ended 31 March 2026 was completed.
The limited review of the unaudited financial results for the quarters ended 30 June 2026 and 30 September 2026 was completed.
The firm states that no audit or review work in respect of these periods is pending.
The latest report submitted by the auditor before resigning was the Limited Review Report for the quarter and six months ended 30 September 2026, dated October 26, 2026.

Tenure details

Appointed as statutory auditors at the Annual General Meeting held on 27/09/2024 for a term of 5 years.
The term was scheduled to expire at the conclusion of the AGM to be held in the year 2029.
The firm will not be conducting the audit for the financial year 2026-27 and onwards.

Next steps set out in the update

The firm will file Form ADT-3 with the Registrar of Companies within 30 days of the resignation, as required under Section 140(2) of the Companies Act, 2013 read with Rule 8 of the Companies (Audit and Auditors) Rules, 2014.
It has asked the Board to take the resignation on record and to fill the casual vacancy in accordance with Section 139(8).

How a retail investor can read this

A statutory auditor leaving before the end of its term is a disclosure investors generally track, because the incoming auditor will sign off on the FY 2026-27 accounts. In this update the stated reason relates to the audit firm's own capacity and pre-occupation, and the outgoing firm has confirmed that all audit and review work up to 30 September 2026 is complete with nothing pending. The key thing to follow is the appointment of a replacement auditor to fill the casual vacancy.

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