Lorenzini Apparels Limited Auditors Resign Due to Pre-occupation
Mittal & Associates have resigned as Statutory Auditors for Lorenzini Apparels Limited due to pre-occupation with other assignments. They were appointed on September 20, 2023, and their term was set to end at the AGM in 2028.
The resignation of auditors requires the company to appoint new auditors, which can lead to delays or scrutiny, potentially impacting financial reporting and investor confidence.
The resignation of statutory auditors is generally viewed negatively as it can indicate underlying issues or disrupt the audit process.
Mittal & Associates, Chartered Accountants, have resigned from their position as Statutory Auditors of Lorenzini Apparels Limited (LAL) with immediate effect. The resignation is attributed to the auditors' pre-occupation with other assignments, preventing them from dedicating sufficient time to LAL's affairs.
The auditors were appointed on September 20, 2023, and their term was scheduled to expire at the 16th Annual General Meeting of the Company for the financial year 2027-28, expected in 2028. Mittal & Associates have requested that the company accept their resignation and inform the Registrar of Companies (ROC) and SEBI accordingly.
The resignation letter, dated August 11, 2026, cites the reason for resignation as provided in their detailed resignation letter dated August 17, 2026. The announcement also includes a declaration confirming the correctness of the information provided and stating that there are no other material reasons for the resignation beyond those specified.
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Lorenzini Apparels 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 Lorenzini Apparels Limited. Read the original for the full detail.