Ashoka Refineries Limited accepted the resignation of M/s. Batra Deepak and Associates as its statutory auditors, effective September 1, 2026. The firm cited pre-occupation with other professional commitments as the primary reason for stepping down.

The company disclosed the development in a filing with the Bombay Stock Exchange on September 2, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Batra Deepak and Associates tendered their resignation via a letter dated September 1, 2026, stating they are unable to devote the requisite time and attention to the affairs of the company.

Audit Tenure and Transition

Batra Deepak and Associates were appointed as statutory auditors at the 33rd Annual General Meeting held on September 30, 2024. Their term was scheduled to last for five years, from FY25 to FY29, concluding after the 38th Annual General Meeting. The resignation occurs approximately two years into this five-year tenure.

Recent Audit Activities

Prior to their resignation, the auditors completed the statutory audit for the financial year ended March 31, 2026, issuing their audit report on May 29, 2026. They also submitted a limited review report dated August 13, 2026, for the quarter ended June 30, 2026.

Despite resigning as statutory auditors, Batra Deepak and Associates agreed to issue the limited review report for the quarter and half-year ended September 30, 2026. This arrangement ensures continuity in compliance with SEBI Master Circular requirements during the transition period.

No Disputes or Qualifications

The auditors confirmed that their resignation is not due to any inability to obtain sufficient and appropriate audit evidence. They explicitly stated there are no disputes or disagreements with the management of Ashoka Refineries regarding the conduct of the audit or suppression of information. No concerns were raised by the auditors prior to their resignation.

The firm will file Form ADT-3 with the Registrar of Companies within the prescribed timeframe, as required under the Companies Act, 2013.

Ashoka Refineries Limited disclosed that Aditya Sharma ceased to be an Independent Director and member of board committees effective June 27, 2026. The company submitted this clarification to the Bombay Stock Exchange on August 14, 2026, addressing a delay in reporting the change in management.

The filing references an earlier corporate announcement dated August 12, 2026. Under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company provided additional details regarding the timing of the disclosure.

Reason for Delay

Ashoka Refineries stated the delay was inadvertent and resulted from an internal oversight in completing requisite disclosure formalities within the prescribed timeline. The company asserted there was no intention to withhold or suppress information from the stock exchange or investors.

Upon identifying the issue, Ashoka Refineries took steps to ensure compliance with applicable regulatory requirements. The company noted it has taken due note of the matter and will strengthen internal monitoring processes to prevent similar delays.

Key Details

Garima Mogha, Company Secretary & Compliance Officer of Ashoka Refineries Limited, signed the intimation.