Statutory auditor change: R. Verma & Associates appointed after Ritu Gupta & Co. resignation

Auditor change: M/s. Ritu Gupta & Co. resigned as Statutory Auditors from 13/08/2026; M/s. R. Verma & Associates (FRN 08026N) appointed to fill the casual vacancy and for five consecutive years from the 32nd AGM to the 37th AGM in 2031.

Sat 10 Oct 2026

Outgoing Auditor Resignation Date

M/s. Ritu Gupta & Co. resigned as Statutory Auditors from 13/08/2026

Incoming Auditor

M/s. R. Verma & Associates (FRN 08026N) appointed to fill the casual vacancy

Appointment Term

five consecutive years from the 32nd AGM to the 37th AGM in 2031

What was informed

• M/s. Ritu Gupta & Co., Chartered Accountants (Firm Registration No. 119890W), the Statutory Auditors of the Company, resigned with effect from 13/08/2026, creating a casual vacancy in the office of the Statutory Auditors.
• At its meeting held on 13th August, 2026, the Board of Directors, on the recommendation of the Audit Committee, proposed and recommended M/s. R. Verma & Associates, Chartered Accountants (Firm Registration No. 08026N) to fill that casual vacancy.

The incoming auditor

• M/s. R. Verma & Associates, Chartered Accountants, Firm Registration No. 08026N, was set up in the year 1987 and has more than 40 years of experience in the profession.
• Its stated areas of expertise include Audit, Due Diligence, Accounting Standards, Taxation (Direct and Indirect), Company Law Matters for domestic and foreign companies, Management Consultancy, Assets Verification, Information System Audit and FEMA.
• The firm furnished written consent and a certificate under Sections 139 and 141 of the Companies Act, 2013 confirming eligibility and independence.

The two appointments and their terms

• To fill the casual vacancy: from 13th August, 2026 until the conclusion of the 32nd Annual General Meeting.
• As Statutory Auditor for a fixed term: five consecutive years from the conclusion of the 32nd AGM (29th September, 2026) until the conclusion of the 37th Annual General Meeting to be held in the year 2031.
• Remuneration is to be such amount plus applicable taxes and reimbursement of out-of-pocket expenses as may be determined by the Board of Directors (including any Committee thereof).

Member approval and the meeting

• The 32nd Annual General Meeting was held on Tuesday, 29th September, 2026 at 11:00 A.M., through video conferencing or other audio visual means; it commenced at 11:07 A.M. and concluded at 11:38 A.M.
• Resolutions covering both appointments were set out at Item No. 4 and Item No. 5 of the Notice, and the Board recommended them for approval by the members.
• The explanatory statement states that none of the Directors, Key Managerial Personnel of the Company, or their relatives are concerned or interested, financially or otherwise, in these resolutions.
• The exchange intimation was signed by Geeta Rawat, Company Secretary (M. No. F13386); the certified resolution copies were signed by Pankaj Jain, Chairman (Director) (DIN: 00001923).

Reading it as an investor

• This is a change in management disclosure about who audits the company's accounts, so it relates to the review and certification of the financial statements rather than to the company's operations.
• The new firm has been appointed for a five-year term, which matches the rotation-period structure provided under the Companies Act, 2013, and the company states the firm confirmed its eligibility, independence and peer review status.
• The vacancy arose from the outgoing auditor's resignation, and that first appointment ran only until the conclusion of the 32nd AGM, after which the five-year term began.

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