Board notes Statutory Auditor's resignation; approves Nahar V and Company as new Statutory Auditor

Outcome of the Board meeting held on 09th October, 2026.

Fri 9 Oct 2026

Outgoing Statutory Auditor

M/s JPMD & Associates, Chartered Accountants (FRN: 133085W)

Resignation Effective Date

09th October, 2026

New Statutory Auditor

M/s Nahar V and Company, Chartered Accountants (FRN: 010443C)

Change of statutory auditor

The Board of Directors met on 09th October, 2026 and approved two connected items relating to the company's Statutory Auditor.

• M/s JPMD & Associates, Chartered Accountants (FRN: 133085W) resigned as Statutory Auditor of the Company with effect from 09th October, 2026.
• The reason recorded in the update is "pre-occupancy", that is, the firm's other work commitments. The resignation letter from the auditor, dated 09-10-2026, gives the same reason: pre-occupancy of work.
• The Board considered and noted the resignation. The detailed reason received from the auditor is enclosed with the disclosure.

New auditor appointed to fill the vacancy

• Based on the recommendation of the Audit Committee, the Board approved the appointment of M/s Nahar V and Company, Chartered Accountants (FRN: 010443C) as Statutory Auditor of the Company with effect from 09th October, 2026.
• The appointment is to fill the casual vacancy caused by the resignation, and the term runs till the conclusion of the upcoming Annual General Meeting to be held in 2026.
• The appointment is subject to the approval of shareholders at that Annual General Meeting.
• Nahar V and Company has given its consent to act as Statutory Auditor. In its letter it confirms that it is eligible and not disqualified under the Chartered Accountants Act, 1949 and rules made thereunder, that the appointment is within the limits laid down under the Companies Act, 2013, and that there are no orders or proceedings against the firm or any of its partners with respect to professional matters of conduct before the Institute of Chartered Accountants of India, any competent authority or any court.
• The update describes the firm as registered with the ICAI, with experience in statutory audits, internal audits, tax audits, financial reporting, corporate advisory and compliance services across various industries.

What this means for a retail investor

• The Statutory Auditor is the independent professional who examines the company's accounts and signs off on its financial statements. A change of statutory auditor is a disclosure investors generally watch, because it can prompt questions about why the change happened.
• In this case, the outgoing auditor's stated reason is pre-occupancy of work.
• The company has acted on the same day to fill the resulting vacancy: the Board approved a new auditor with effect from 09th October, 2026, so the position is filled.
• Because this is a casual vacancy, the new auditor's term is not a full five-year term. It runs only till the conclusion of the Annual General Meeting to be held in 2026, and shareholders will vote on the appointment at that meeting.

Key takeaways

• Resignation of the Statutory Auditor: M/s JPMD & Associates (FRN: 133085W), effective 09th October, 2026, reason stated as pre-occupancy of work.
• Replacement approved by the Board on the Audit Committee's recommendation: M/s Nahar V and Company (FRN: 010443C), effective 09th October, 2026.
• Term: till the conclusion of the upcoming Annual General Meeting to be held in 2026, subject to shareholders' approval.

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