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SecUR Credentials Appoints VMBA And Associates as New Statutory Auditors
SecUR Credentials Limited has announced a change in its statutory auditors following the resignation of M/s. S.D. Mehta & Co. on December 18, 2025. The Board of Directors approved the appointment of M/s. VMBA And Associates as the new statutory auditors during a meeting on January 12, 2026. This transition is subject to the final approval of the company's shareholders. Such changes in oversight roles are critical for maintaining corporate governance standards.
Key Highlights
Resignation of M/s. S.D. Mehta & Co. (ICAI Firm Reg No. 137193W) as Statutory Auditors effective December 18, 2025.
Appointment of M/s. VMBA And Associates (ICAI Firm Reg No. 133085W) as the new Statutory Auditors.
The Board meeting for approval was held on January 12, 2026, between 05:00 p.m. and 05:30 p.m.
The appointment is subject to the approval of the members of the company in accordance with the Companies Act, 2013.
💼 Action for Investors
Investors should monitor for any specific reasons cited in the auditor's resignation letter to ensure there are no underlying financial reporting concerns. Verify the credentials of the new audit firm and watch for the upcoming shareholder vote.
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SecUR Credentials Reports FY24 Results with Severe Auditor Qualifications; Securities Suspended
SecUR Credentials has released its FY24 financial results, which are accompanied by a heavily qualified auditor's report highlighting significant financial irregularities and lack of documentation. The company's securities remain suspended due to a two-year lapse in regulatory filings and non-payment of listing fees. Major concerns include Rs. 205.09 lakhs receivable from a director without evidence and Rs. 599.70 lakhs in long-pending property advances. Furthermore, SEBI is investigating alleged fictitious transactions involving the company and Varanium Cloud Ltd.
Key Highlights
Auditors issued a qualified opinion citing Rs. 205.09 lakhs receivable from a director without supporting documentation or invoices.
Company securities are currently suspended for non-payment of fees and failure to file compliances for approximately two years.
Promoter group shareholding has been zero since March 2022, and KMP shareholdings are frozen per SEBI orders.
SEBI is investigating alleged fictitious transactions involving Varanium Cloud Ltd, resulting in a sales reversal of Rs. 235.76 lakhs.
A long-standing advance of Rs. 599.70 lakhs for property remains unrecovered with no acquisition made over several years.
💼 Action for Investors
Investors should exercise extreme caution as the company faces severe governance issues, regulatory investigations, and significant financial inconsistencies. Given the trading suspension and zero promoter holding, the risk of total capital loss is exceptionally high.