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Latest filing: 2026-08-31 12:02
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Statutory Auditor Piyush Kothari & Associates Resigns Citing Pressing Commitments
Kaarya Facilities and Services Ltd announced the resignation of its statutory auditor, M/s Piyush Kothari & Associates, with immediate effect on August 31, 2026. The firm was originally appointed on September 30, 2025, for a 5-year term scheduled until 2030, but stepped down after completing the FY26 audit. The auditor cited pressing commitments and pre-fixed assignments, confirming there were no disagreements or management-imposed limitations.
Confidence: HIGH
What changedM/s Piyush Kothari & Associates stepped down prematurely from their 5-year statutory audit term ending 2030.
Why it mattersPremature auditor exits require monitoring for governance and ensure smooth transition to new auditors for forthcoming financial reporting.
Original appointment date: 30th September, 2025Scheduled term expiry: 31st March, 2030Resignation date: 31-08-2026Latest audit report issued: 29th May, 2026
📅 Short termThe company will need to convene a board meeting to appoint a new statutory auditor in casual vacancy subject to shareholder approval.
📈 Long termLimited operational impact provided a reputable replacement auditor is appointed smoothly without disruptions in audit quality.
⚠ Risk flags
- Premature auditor resignation within 1 year of a 5-year tenure
- Small micro-cap governance sensitivity
Key Highlights
Piyush Kothari & Associates resigned as statutory auditor with effect from August 31, 2026
The auditor was originally appointed on September 30, 2025, with a term valid until the 2030 AGM
Latest audit report submitted prior to resignation was for the year ended March 31, 2026 (issued on May 29, 2026)
Auditor stated the resignation was due to pressing commitments, confirming no unresolved concerns or lack of audit evidence
👀 What to Watch
Track the Board's appointment of a casual vacancy auditor and ensure subsequent quarterly review reports are filed without delays or qualification remarks.
