Grand Foundry Ltd.: Statutory & Internal Auditors Resign Effective Jan 6, 2026
Grand Foundry Limited's Statutory Auditors, M/s Ashwani & Associates, and Internal Auditors, M/s Ajay Kanjhlia & Associates, have resigned. The resignations are effective from January 6, 2026, due to other professional commitments. The company has provided details as per SEBI regulations.
A change in auditors, especially both statutory and internal, can be a significant event for a company. It may lead to delays in financial reporting or require time to appoint new auditors and for them to familiarize themselves with the company's operations. This could have a medium-term impact on investor confidence and operational continuity.
The resignation of auditors is a routine compliance matter and does not inherently indicate positive or negative performance for the company. The reasons provided are standard. Therefore, the sentiment is neutral.
Grand Foundry Limited has announced the resignation of both its Statutory Auditors and Internal Auditors, effective from the close of business hours on January 6, 2026. M/s Ashwani & Associates, Chartered Accountant, served as the Statutory Auditors for the Financial Year 2025-26, while M/s Ajay Kanjhlia & Associates, Chartered Accountant, held the position of Internal Auditors for the same financial year.
The resignations were submitted via letters dated January 6, 2026. The stated reason for the auditors' departure is pre-occupation with other assignments, which limits their ability to devote sufficient time and attention to the company's audit functions.
The company is providing the requisite details as per SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, and the Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. M/s Ashwani & Associates will no longer be associated with the company as Statutory Auditors, and M/s Ajay Kanjhlia & Associates will no longer be associated as Internal Auditors.
What to do with a filing like this
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.