Arco Leasing accepted the resignation of three independent directors effective August 31, 2026. The departures follow a sale of stake and a consequent change in management control.

The company informed the BSE that Mr. Srikar Gopalrao, Mrs. Usha Manish Ghelani, and Mrs. Khadija Taher Raniwala tendered their resignations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resignation Details

All three directors cited the sale of stake and the resulting shift in ownership as the primary reason for stepping down. The company confirmed there were no other material reasons for their resignations.

Mr. Gopalrao currently serves with Yunik Managing Advisors. Mrs. Ghelani is an independent director at Thomas Scott (India) Limited. Mrs. Raniwala does not hold directorship in any other listed entity.

Board Transition

The resignations took effect at the closure of business hours on August 31, 2026. Mr. Jitesh Kothari, Whole Time Director, signed the intimation letter to the exchange. The board has acknowledged the receipt of resignation letters from all three members.

Arco Leasing has appointed M/s. D M K H & CO, Chartered Accountants, as its statutory auditors to fill a casual vacancy. The appointment follows the resignation of the previous auditors, M/s. M. C. Jain & Co LLP.

The Board of Directors and Audit Committee approved the move during their meetings held on August 25, 2026. The new firm will hold office from the date of appointment until the conclusion of the ensuing 42nd Annual General Meeting (AGM).

Appointment Details

The company also recommended the appointment of D M K H & CO for a term of five consecutive years to shareholders. This longer term would commence from the conclusion of the 42nd AGM and extend until the conclusion of the 47th AGM, scheduled for 2031.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. It also aligns with SEBI Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated July 11, 2023, updated as on January 30, 2026.

About the New Auditors

D M K H & CO was established in 1990 by Durgesh Kumar Kabra. The firm has 35 years of experience in audit, assurance, governance, risk, and compliance services. It operates nine offices across India, including Mumbai, Pune, Ahmedabad, and Delhi, with a team of over 160 professionals and 16 partners.

The firm is empaneled with the Reserve Bank of India, Indian Banks' Association, Income Tax Department, GST department, Comptroller and Auditor General, and ICAI. It holds sectoral expertise in banking, insurance, NBFCs, manufacturing, pharmaceuticals, textiles, engineering, IT/ITES, and FMCG.