Skyline Ventures: Statutory Auditors K S Rao & Associates Resign

M/s K S Rao & Associates, the statutory auditors of Skyline Ventures India Limited, have resigned effective May 27, 2026. The resignation stems from the company's failure to provide essential books of account, financial information, and supporting records necessary for completing the limited review for Q2, Q3, Q4 of FY2025-26 and the statutory audit for FY2025-26. The auditors cited a significant governance breakdown, including the non-adoption of FY2024-25 financial statements by shareholders, lack of handover from erstwhile management, and admitted non-availability of critical records. Issues such as a vacated registered office, missing assets, incomplete banking access, and unauthorized transactions (leading to an FIR) were highlighted. The company secretary confirmed "practical limitations and incomplete access to information," making audit completion uncertain. Consequently, the auditors were unable to obtain sufficient appropriate audit evidence to comply with SEBI (LODR) Regulations, 2015, particularly the deadline for submitting annual audited financial results.