Advik Capital disclosed on August 17, 2026, that its statutory auditors, KSMC & Associates, have tendered their resignation effective August 15, 2026. The firm stated that the existing fee structure is no longer commercially or professionally sustainable given the scale and complexity of the audit and quarterly review assignments.

Resignation Details

KSMC & Associates, which was appointed by the Board of Directors in August 2022 and approved by members in September 2022, cited several factors for its departure:

• Fee Inadequacy: The firm noted that despite repeated discussions regarding a revision in professional fees to match the deployed time and resources, no adjustment was made. The latest communication from the firm regarding these concerns was dated April 22, 2026, with a response from management received on May 18, 2026.
• Financial Constraints: Management informed the auditors that the company is currently facing financial constraints and has been incurring losses.
• No Future Revision: The company indicated it is not in a position to revise fees and does not foresee an increase in the foreseeable future.

The resignation will be placed before the Audit Committee and the Board of Directors at their ensuing meetings. Advik Capital stated it will take necessary steps under the Companies Act, 2013, and SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015, to fill the casual vacancy.

Transition Plan

KSMC & Associates emphasized that the timing of the resignation was chosen to facilitate an orderly transition. The firm confirmed that all audit and review reports required prior to the resignation date have been issued or completed. This includes the un-audited report dated August 14, 2026, on the company's financial results for the quarter ended June 30, 2026 (Q4 FY25-26), as well as reviews for Q1 FY26-27. The firm committed to extending reasonable cooperation to the incoming statutory auditor for a smooth handover.

Advik Capital has published its unaudited financial results for the quarter ended June 30, 2026. The filing, submitted to the Bombay Stock Exchange on August 16, 2026, also encompasses the audited financial results for the full financial year ended March 31, 2026.

The disclosure was made pursuant to Regulation 30 and Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the results were published in two newspapers: Financial Express (English Edition) and Jansatta (Hindi Edition), both dated August 16, 2026.

Regulatory Compliance

Narendra Kumar Singhal, Director of Advik Capital Limited, signed off on the communication addressed to the Listing Compliance Department at BSE Limited. The filing serves as a formal record of the newspaper publications required under the listing regulations.

The company’s registered office is located in New Delhi. No specific financial metrics, such as revenue or net profit figures, were included in this particular regulatory notification.