U. Y. Fincorp Limited: Statutory Auditors M/s B Nath & Co. Resign
U. Y. Fincorp Limited's statutory auditors, M/s B Nath & Co., have resigned effective July 23, 2026. The firm cited inadequate fees relative to the company's growing operations and complexity as the reason. The company will appoint a new auditor.
A change in statutory auditors can be perceived as a medium impact event as it might lead to a temporary disruption in audit processes and requires the company to find and onboard a new auditor, which could affect reporting timelines or investor confidence.
The resignation of auditors is a routine corporate event and does not inherently indicate positive or negative performance of the company. The reason provided is financial, which is a common factor in such decisions.
U. Y. Fincorp Limited has announced the resignation of its statutory auditors, M/s B Nath & Co., Chartered Accountants (Firm Registration No. 307057E). The resignation is effective from the close of business hours on July 23, 2026.
The auditors cited that the existing fees were not commensurate with the time and effort required, considering the growing scale of operations, increasing complexity of business, and the regulatory environment, including applicable RBI Scale Based Regulations.
The company will take necessary steps to appoint a new statutory auditor to fill the casual vacancy caused by this resignation and will intimate the stock exchange in due course. This disclosure is made in compliance with Regulation 30 read with Para A(7) of Part A of Schedule III of the Listing Regulations.
What to do with a filing like this
U. Y. Fincorp 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 U. Y. Fincorp Limited. Read the original for the full detail.