Vashishtha Luxury Fashion

Vashishtha Luxury Fashion Limited announced an ongoing collaboration with Bequin, an India-based materials initiative that creates bio-based alternatives to conventional sequins by merging materials science with textile craft. The partnership focuses on sustainability and environmentally responsible luxury fashion practices. Bequin's sheet and cuttable sequin formats offer natural lustre, 3D relief capability, and full customization in thickness, finish, and color, enabling designers to replace petroleum-based imported embellishments with locally produced, biodegradable options that reduce supply-chain emissions. The collaboration began under the New Landscapes India Catalyst R&D programme, supported by the University of the Arts London and the British Council, where Vashishtha served as Bequin's embroidery partner for application testing and real-world trials. As part of Bequin's collaboration with GANNI under the Fabrics of the Future Initiative, Vashishtha played a key role as an exclusive embroidery partner for GANNI's Fall/Winter 2025 collection, developing delicate 3D contemporary floral motifs that were showcased at Paris Fashion Week in March 2025. The company invites brands and design houses to contact them for bespoke development runs, technical trials, and sustainable embroidery projects.

Kumbhat Co. LLP resigned as statutory auditor of Vashishtha Embroideries Private Limited, a material subsidiary of Vashishtha Luxury Fashion Limited, effective November 5, 2025. The auditing firm cited disagreement over audit fees as the reason for resignation. The company had requested a reduction in fees for the statutory audit of financial statements for the year ending March 31, 2026. Kumbhat Co. LLP stated they could not undertake the audit at the reduced fee considering their estimated time and effort involved, and their ability to comply with auditing standards. The auditors were originally appointed for a five-year term from FY 2023-24 to FY 2027-28 during an extraordinary general meeting held on February 17, 2023.

Vashishtha Luxury Fashion Limited's Board of Directors approved several key appointments during their October 13, 2025 meeting. M/s. Kumbhat & Co. LLP resigned as Statutory Auditors effective October 8, 2025. The Board recommended M/s. SMNK & Co as the new Statutory Auditors to fill the casual vacancy, subject to shareholder approval at an upcoming Extraordinary General Meeting scheduled for November 10, 2025. Additionally, M/s. R G G R & Associates LLP were appointed as Internal Auditors for Financial Year 2025-2026. SMNK & Co operates from multiple locations across Gujarat, Madhya Pradesh, and Rajasthan, with five Fellow Members and three associate members of ICAI, plus over 15 professionals. R G G R & Associates LLP was established in 2022 and specializes in Direct Taxation, Auditing & Assurance, and Financial Planning, with designated partners having over 12 years of experience.