Statutory Auditor Retires on Term Completion; New Statutory and Secretarial Auditors Appointed at AGM
At the 53rd AGM held on September 23, 2026, members approved auditor changes.
By ScoutQuest · · 1 min read
- Outgoing Statutory Auditor
- M/s V.S. Somani and Co., Chartered Accountants (appointed 24.09.2021)
- New Statutory Auditor
- M/s S.N. Nanda & Co., Chartered Accountants for 5 consecutive years (53rd AGM to 58th AGM)
- New Secretarial Auditor
- M/s L.N. Joshi & Co., Practicing Company Secretaries for 5 consecutive years (53rd AGM to 58th AGM)
- AGM Date
- September 23, 2026
- Board Approval Date
- 12.08.2026
What was decided
At the 53rd General Meeting held on Wednesday, September 23, 2026, members approved three auditor-related items, intimated under Regulation 30 of SEBI LODR.
- Retirement: M/s V.S. Somani and Co., Chartered Accountants, ceases to be Statutory Auditor on completion of their term. Their date of appointment was 24.09.2021.
- New Statutory Auditor: M/s S.N. Nanda & Co., Chartered Accountants, appointed for 5 consecutive years, from the conclusion of the 53rd AGM to the 58th AGM.
- Secretarial Auditor: M/s L.N. Joshi & Co., Practicing Company Secretaries, appointed for 5 consecutive years, from the conclusion of the 53rd AGM to the 58th AGM, in line with Regulation 24A.
Background of the new firms
M/s S.N. Nanda & Co. is stated to have over 60 years of experience auditing Public Sector Undertakings, banks, companies and other organisations, with services across major sectors.
M/s L.N. Joshi & Co. is stated to have over 25 years of experience in corporate laws, securities laws, secretarial audits, corporate restructuring, due diligence, regulatory compliances and advisory services, with a dedicated secretarial audit team.
How to read it
The reason given for the outgoing auditor's exit is completion of their term, not a resignation or a dispute. Both new appointments were first approved by the Board on 12.08.2026 and then by shareholders on 23.09.2026. Disclosure of relationship between directors is marked Not Applicable for all three firms.
For investors, this is an administrative governance update rather than an item affecting operations or financials. The main practical effect is that the company's statutory audit and secretarial audit will be handled by new firms over the next five annual cycles.
Also from Mangalam Drugs & Organics
Subsequent intimation: default on bank loan accounts at Bank of Maharashtra and Bank of Baroda
16 Oct 2026
Shareholders approve new Statutory and Secretarial Auditors for 5 years; outgoing auditor retires
24 Sep 2026
More numbers
- Term of new Statutory Auditor5 (five) consecutive years
- Term of Secretarial Auditor5 (five) consecutive years
- Experience of S.N. Nanda & Co.over 60 years
- Experience of L.N. Joshi & Co.over 25 years
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