Auditor25 Aug 2026, 06:21 pm
Shayona Engineering Auditors Resign Due to Remuneration Dispute
AI Summary
Shayona Engineering Ltd announced the resignation of its statutory auditors, M/s. SGPS & Associates, effective August 24, 2026. The auditors cited increased audit scope and regulatory requirements post-listing on the BSE SME platform. A disagreement over professional remuneration, commensurate with the enhanced scope, led to the resignation. The auditors confirmed no issues related to information availability, management cooperation, or fraud. The company is initiating steps to fill the vacancy as per the Companies Act, 2013.
Key Highlights
- Statutory auditors SGPS & Associates resigned from Shayona Engineering.
- Resignation effective August 24, 2026, due to increased audit scope.
- Dispute over professional remuneration was a key factor.
- No issues of fraud or lack of cooperation were reported.
- Company is taking steps to appoint new statutory auditors.
Price Impact
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