Board approves S.D. Jain & Company as Statutory Auditors after Bilimoria Mehta resigns
Board met on 12th October, 2026 and approved M/s. S.D. Jain & Company, Chartered Accountants, as Statutory Auditors.
- Incoming Statutory Auditor
- M/s. S.D. Jain & Company, Chartered Accountants
- Appointment Effective Date
- 12th October, 2026
- Appointment Term
- five (5) consecutive years, until the conclusion of the 40th AGM in 2031
What the Board approved
The Board of Directors, at its meeting held on Monday, 12th October, 2026, approved the appointment of M/s. S.D. Jain & Company, Chartered Accountants, as the Statutory Auditors of the Company. The decision was based on the recommendation of the Audit Committee.
The appointment is to fill the casual vacancy caused by the resignation of the earlier auditor, M/s. Bilimoria Mehta & Co.
Two-part term
Both parts of the appointment are subject to shareholders approving it
- The appointment is effective from 12th October, 2026 and continues until the conclusion of the ensuing Extra-Ordinary General Meeting.
- Subject to that approval, M/s. S.D. Jain & Company is appointed for a term of five (5) consecutive years, commencing from the conclusion of the ensuing Extra-Ordinary General Meeting until the conclusion of the 40th Annual General Meeting, to be held in the year 2031.
The first part covers the period immediately after the vacancy; the second part sets out the longer term once shareholders give their approval.
Shareholder vote and the meeting
- The Extra-Ordinary General Meeting is proposed for Thursday, 05th November 2026.
- M/S Jaymin Modi & Co., Practicing Company Secretary, has been appointed as the Scrutinizer of that meeting.
- The EGM notice is for seeking shareholders' approval for the auditor appointment matters.
About the incoming auditor
Annexure-A describes M/s. S.D. Jain & Company as a professional chartered accountancy firm, with Firm Registration No. 121521W, providing services in the areas of audit, accounting, taxation, financial reporting and statutory compliance.
What this means for a retail investor
- A statutory auditor is the professional firm that examines and signs off on the company's financial statements, so a change of auditor is a development investors generally track.
- The new firm's tenure is planned over multiple years, up to the 40th Annual General Meeting in 2031, rather than only for the immediate period.
- The appointment does not become the long-term one automatically: it is subject to the approval of the shareholders at the Extra-Ordinary General Meeting.
- The Board has approved the appointment; the shareholder vote is the next step set out in the update.
Points to keep in view
- The vacancy arose because the previous auditor, M/s. Bilimoria Mehta & Co., resigned.
- The update records the appointment of the successor firm, the term of the appointment and the route to shareholder approval.
More numbers
- Term of appointment as Statutory Auditorsfive (5) consecutive years
- Annual General Meeting up to which the term runs40th Annual General Meeting
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