Garbi Finvest539492Auditor resignation (mid

Statutory auditor resigns citing unpaid audit fees

Garbi Finvest's Statutory Auditor, M/s Kushal S. Poonia & Co., Chartered Accountants, has resigned.

By ScoutQuest · Wed 4 Nov 2026, 11:59 AM IST · 2 min read

Reason for Resignation: professional fees payable for audit remained unpaid despite becoming due and payable
Resignation Letter Date: 30th October 2026
Letter Received by Company: 3rd November 2026 (by email)

M/s Kushal S. Poonia & Co., Chartered Accountants (Firm Registration Number 156576W), has tendered its resignation from the position of Statutory Auditor of Garbi Finvest Ltd.
The reason recorded in the resignation letter and in the company's disclosure: non-payment of professional fees payable by the company in respect of audit, which remained outstanding despite becoming due and payable.
The outgoing auditor has also requested the company to arrange settlement of the outstanding professional fees payable to it.

Resignation letter dated 30th October 2026.
Received by the company by email on 3rd November 2026.
The letter will be placed before the Board of Directors at its meeting scheduled for 13th November 2026 for noting.
The resignation shall take effect upon completion and issuance of the Limited Review Report for the quarter ended 30th September 2026, subject to applicable regulatory requirements.

As the resignation was tendered within 45 days from the end of the quarter ended 30th September 2026, the Statutory Auditor is required, in terms of the SEBI Master Circular, to issue the Limited Review Report for that quarter before the resignation takes effect.
In simple terms, the outgoing auditor still signs off on the quarterly review of that period before stepping down.

The Audit Committee will deliberate on the resignation and the reasons stated therein, and its views will be disclosed to the Exchanges not later than twenty-four hours after the Audit Committee meeting.
The company shall fill the vacancy in the office of Statutory Auditor by appointment by the Board, on the recommendation of the Audit Committee under Section 177(4)(i) of the Companies Act, 2013 read with Regulation 18(3) of the SEBI Listing Regulations, within thirty days of the vacancy.
That appointment requires approval of members at a general meeting convened within three months of the recommendation of the Board.

The stated cause here is a payment issue on audit fees, which is a commercial matter between the company and its auditor, rather than a stated disagreement over the accounts.
A statutory auditor is the professional who reviews and signs off on the company's financial statements, so any change in that office is a governance item worth tracking, particularly the reasons and the incoming auditor's identity.
The next datapoints to watch are the Audit Committee's views on the resignation, the quarterly Limited Review Report, and the name of the successor auditor once appointed.

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