Procal Electronics Explains Auditor Resignation Disclosure Delay

Procal Electronics India Ltd has submitted a clarification to BSE Limited regarding the delayed submission of the disclosure concerning the resignation of its Statutory Auditor. The company cited financial constraints, prolonged losses, and the absence of adequate internal resources, including a full-time Company Secretary or dedicated compliance support, as reasons for the delay. The company stated that the lapse was an inadvertent administrative error due to the absence of a dedicated compliance function. Procal Electronics has since submitted the disclosure and is taking steps to strengthen its internal compliance mechanisms to ensure timely adherence to regulatory requirements.