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Statutory Auditor Pankaj R Shah & Associates Resigns With Effect From 05th November 2026

Varvee Global Ltd's statutory auditor, Pankaj R Shah & Associates, Chartered Accountants, has resigned with effect from 05th November 2026.

By ScoutQuest · Thu 5 Nov 2026, 6:35 PM IST · 2 min read

Resignation effective date

05th November 2026

Auditor

Pankaj R Shah & Associates, Chartered Accountants

Stated reason

preoccupation with other audit assignments

Who stepped down

• Pankaj R Shah & Associates, Chartered Accountants, Ahmedabad, has resigned as the statutory auditor of Varvee Global Limited with effect from 05th November 2026.
• The resignation letter is signed by CA Kinjal Pandit, Partner, on behalf of the firm.

Terms of the appointment

• The firm was appointed pursuant to a shareholders' resolution dated 27-08-2022 to hold office for a term of 5 years.
• That term was scheduled to expire on 26-08-2027.
• Before resigning, the firm completed the statutory audit for the year ended 31 March 2026 and issued its reports on 27-05-26.
• It had also issued limited review reports for Q-1 and Q-2 of F.Y. 2026-27, dated 12-08-2026 and 22-10-2026.

The reason stated

• The firm says it is unable to continue as the statutory auditor due to preoccupation with other audit assignments, as discussed and agreed with the management.
• The resignation is stated to be with immediate effect.
• The firm says it will forward the copy of the ADT-3, as shared with the Registrar of Companies, in due course.

What the auditor confirmed in the disclosure table

• Efforts made by the auditor prior to resignation, including approaching the Audit Committee or Board of Directors: Not Applicable
• Whether inability to obtain sufficient appropriate audit evidence was due to a management-imposed limitation or circumstances beyond management's control: Not Applicable
• Whether any lack of information would have a significant impact on the financial statements or results: Not Applicable
• Whether alternative procedures were performed to obtain appropriate evidence: Not Applicable
• Any other facts relevant to the resignation: None
• Declaration: the information given in the letter and its attachments is correct and complete, and there is no other material reason for the resignation other than those provided.

How to read this

• A statutory auditor is the independent chartered accountant firm that examines a company's books and signs off on its financial statements. Its reports are what the company's published accounts rest on.
• The resignation takes effect before the 5-year term was due to end on 26-08-2027, so the audit function moves to a new firm once one is appointed.
• The stated reason is time pressure from other audit work, and the firm has separately confirmed in the disclosure table that no concerns were flagged before it stepped down and that no audit information was withheld.
• The point a reader can track going forward is the identity and reporting record of the firm that audits the accounts from here on.

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