Ashapuri Gold auditor converts to partnership firm
Ashapuri Gold Ornament Limited disclosed that its statutory auditor, M/s. Shivam Soni & Co., converted from a proprietorship to a partnership firm effective January 30, 2026. The firm admitted CA Reshma Divyesh Maru as a partner while retaining its original name and registration number. The Board will review the intimation for compliance with applicable regulations.
*this image is generated using AI for illustrative purposes only.
Ashapuri Gold Ornament Limited has informed the exchanges regarding a change in the legal constitution of its statutory audit firm. The company received a letter dated May 22, 2026, from M/s. Shivam Soni & Co., Chartered Accountants, intimating the conversion of the firm from a sole proprietorship to a partnership.
The conversion was effective from January 30, 2026, following the admission of CA Reshma Divyesh Maru as a new partner. CA Shivam Devkishanji Soni, the former sole proprietor, continues as a partner in the newly constituted firm. The auditor confirmed that there is no change in the name of the firm, the Firm Registration Number (152477W), or the Peer Review Certificate issued by The Institute of Chartered Accountants of India (ICAI).
M/s. Shivam Soni & Co. was appointed as the Statutory Auditor of the company at the 13th Annual General Meeting held on September 27, 2021. The appointment was for a period of five consecutive years, concluding with the 18th Annual General Meeting scheduled for 2026. The firm stated that the conversion is in line with ICAI guidelines and accepted practices.
Auditor Details
| Detail | Information |
|---|---|
| Audit Firm | M/s. Shivam Soni & Co., Chartered Accountants |
| Firm Registration No. | 152477W |
| Location | Ahmedabad |
| New Partner | CA Reshma Divyesh Maru (Membership No. 137933) |
| Continuing Partner | CA Shivam Devkishanji Soni (Membership No. 178351) |
| Effective Date of Conversion | January 30, 2026 |
The company noted that the disclosure requirements regarding the resignation of statutory auditors, as per SEBI Circular No. CIR/CFD/CMD1/114/2019 dated October 18, 2019, do not apply in this instance. The firm clarified that the change is solely due to the alteration in legal constitution and not a resignation.
The intimation letter received from the auditors will be placed before the Audit Committee and the Board of Directors of the company for their consideration and necessary compliance with the Companies Act, 2013, and the Listing Regulations. The company has requested the exchange to take note of the change and update its records accordingly.
Historical Stock Returns for Ashapuri Gold Ornament
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.24% | -3.64% | -7.84% | -26.69% | -38.70% | +25.52% |
How might the transition of M/s. Shivam Soni & Co. from a sole proprietorship to a partnership affect the audit quality and independence standards for Ashapuri Gold Ornament Limited going forward?
With the current auditor appointment concluding at the 18th AGM in 2026, what criteria will Ashapuri Gold Ornament Limited likely prioritize when selecting its next statutory auditor?
Could CA Reshma Divyesh Maru's admission as a new partner introduce any new areas of expertise or specialization that may benefit the audit process for a gold ornament company?
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