EFC (I) Limited Appoints SKAND and Co. as Statutory Auditors Following Resignation
EFC Limited's statutory auditors, Nikhil Warankar & Co., resigned effective April 24, 2026, due to ICAI's peer review mandate for FY25-26. SKAND and Co. has been appointed as the new statutory auditors to fill the casual vacancy.
The change of auditors is a routine compliance matter and is unlikely to have a significant impact on the company's operations or financial performance.
The change in auditors is due to a regulatory requirement and does not inherently present a positive or negative outlook for the company's financial performance.
EFC (I) Limited has announced a change in its statutory auditors for its wholly owned material subsidiary, EFC Limited. M/s. Nikhil Warankar & Co., the current statutory auditors, have tendered their resignation effective April 24, 2026.
This resignation is a consequence of an announcement by the Institute of Chartered Accountants of India (ICAI) on January 22, 2025, which mandates that statutory audits for the financial year 2025-26 must be conducted by a Peer Reviewed Firm. M/s. Nikhil Warankar & Co. does not meet this peer review requirement and is therefore not statutorily eligible for the audit.
To fill the casual vacancy created by this resignation, the Board of Directors and shareholders of EFC Limited have approved the appointment of M/s. SKAND and Co. (FRN: 132898W), a Peer Reviewed Chartered Accountant Firm, as the new Statutory Auditors. M/s. SKAND and Co. is a professionally managed firm established in 2011, offering audit, assurance, taxation, regulatory, and advisory services.
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EFC (I) Limited filed this with the NSE as a statutory disclosure, categorised under auditor changes. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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