Auditor23 Jul 2026, 06:00 pm
U. Y. Fincorp Ltd Statutory Auditors Resign Due to Fee Concerns
AI Summary
U. Y. Fincorp Ltd announced the resignation of its statutory auditors, M/s B. Nath & Co., Chartered Accountants. The auditors cited that the existing fees are not commensurate with the time and effort required, given the company's growing scale of operations, increasing business complexity, and regulatory environment. The resignation is effective immediately from the close of business hours on July 23, 2026. The company is required to submit applicable declarations to the stock exchanges within prescribed timelines.
Key Highlights
- Statutory auditors M/s B. Nath & Co. have resigned from U. Y. Fincorp Ltd.
- Resignation is due to inadequate audit fees relative to workload and complexity.
- The auditors cited growing operations and regulatory environment as factors.
- The resignation is effective immediately as of July 23, 2026.
- Company must comply with stock exchange disclosure requirements.
Price Impact
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