Grand Foundry Ltd.: Internal & Statutory Auditors Resign Due to Other Commitments
Grand Foundry Limited announced the resignation of its Internal Auditors, M/s. Ajay Kanjhlia & Associates, and Statutory Auditors, M/s. Ashwani & Associates. Both resignations are effective from January 6, 2026, due to other professional commitments limiting their availability.
The resignation of both statutory and internal auditors can create temporary uncertainty and may require the company to quickly appoint replacements, potentially impacting audit timelines or processes. It necessitates new audit engagements and familiarization periods.
The resignations of auditors are a routine event and do not inherently indicate positive or negative performance or outlook for the company. The reasons provided are professional pre-occupations.
Grand Foundry Limited has announced the resignation of both its Internal Auditors and Statutory Auditors for the Financial Year 2025-26. The resignations were submitted via letters dated January 6, 2026, and are effective immediately from the close of business hours on the same day.
M/s. Ajay Kanjhlia & Associates, Chartered Accountants, have resigned as the Internal Auditors due to pre-occupation with other assignments, which limit their ability to devote sufficient time and attention to the company's internal audit functions. They stated that during their tenure, they did not observe any matters requiring special reporting or disclosure to the Board or members.
Similarly, M/s. Ashwani & Associates, Chartered Accountants (Firm Registration No. FRN 000497N), have also resigned as the Statutory Auditors for the same financial year, citing pre-occupation with other assignments as the reason. The company has provided the requisite details regarding these resignations as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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Grand Foundry 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 medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Grand Foundry Limited. Read the original for the full detail.