Padam Cotton Yarns Ltd: Statutory Auditor Resigns, New Firm Appointed

Padam Cotton Yarns Ltd announced the resignation of its statutory auditors, M/s. SVJK & Associates, effective July 27, 2026. The resignation is due to a disagreement over audit fees, citing that the existing fees are not commensurate with the required professional resources for the company's growing operations and complexity. The company's Board of Directors, based on the Audit Committee's recommendation, has appointed M/s. Piyush Kothari & Associates as the new statutory auditors to fill the casual vacancy for FY 2026-27, subject to shareholder approval at the upcoming General Meeting. M/s. Piyush Kothari & Associates is a peer-reviewed firm established in 2015.