ikio technologies disclosed on July 30, 2026, that it has received the formal resignation disclosures from M/s BGJC & Associates LLP regarding its role as Joint Statutory Auditor for three unlisted material subsidiaries. The update confirms the reasons cited by the auditor firm in its July 24, 2026, resignation letters: a failure by the subsidiaries to serve statutory notice for their June 20, 2026, Annual General Meetings (AGMs). This procedural breach deprived the auditors of their rights under the Companies Act, 2013, leading to their immediate exit and shifting full audit responsibility to M/s Agarwal & Saxena.

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular dated January 30, 2026. The resignation affects Royalux Lighting Private Limited (RLPL), IKIO Solutions Private Limited (ISPL), and Royalux Exports Private Limited (REPL). M/s BGJC & Associates LLP had served as the sole Statutory Auditors for these entities up to financial year 2025–26 before being appointed as Joint Statutory Auditors at the respective AGMs.

Auditor’s Citation of Procedural Lapse

Partner Pranav Jain of M/s BGJC & Associates LLP highlighted significant communication gaps in resignation letters dated July 24, 2026. The firm noted it was neither informed nor consulted regarding the proposal to appoint Joint Statutory Auditors. Crucially, despite being entitled to receive notice under the Companies Act, 2013, the firm did not receive the convening notice for the AGMs where the new appointment was ratified.

The resignation letter states that this lack of engagement "affected the level of communication and coordination that an engagement of this nature requires." The firm concluded that continuing in the role would be inappropriate given these circumstances. No audit-related concerns requiring escalation to the Audit Committee were cited; the resignation is strictly due to procedural non-compliance by the subsidiaries.

Impact on Audit Structure

With M/s BGJC & Associates LLP stepping down, M/s Agarwal & Saxena assumes full responsibility as the Sole Statutory Auditor for the remaining period of their appointment. The initial appointment of M/s Agarwal & Saxena was intended to strengthen audit assurance and facilitate timely consolidation of financial statements with the listed holding company.

Regulatory Compliance and Next Steps

The company has enclosed the resignation letters and the detailed disclosures from M/s BGJC & Associates LLP with its intimation to the stock exchanges. The Board of Directors of each subsidiary has been requested to complete all consequential statutory compliances, including filings with the Registrar of Companies. The latest audit reports submitted by M/s BGJC & Associates LLP were dated May 1, 2026, covering the financial year ended March 31, 2026.

IKIO Technologies has scheduled its 10th Annual General Meeting (AGM) for Thursday, July 30, 2026, at 3:30 P.M. IST through video conferencing. The meeting will transact business including the adoption of audited financial statements for the financial year ended March 31, 2026, and the appointment of statutory auditors. Shareholders as on Thursday, July 23, 2026, are eligible to vote.

The Board proposes appointing M/s Agarwal & Saxena, Chartered Accountants, as statutory auditors for a term of five years, subject to shareholder approval. The remuneration is proposed at ₹ 1.87 Million per annum plus applicable taxes and reimbursement of expenses. The current auditors, M/s BGJC & Associates, will complete their term at the conclusion of this AGM.

Ordinary Business

The AGM will consider the adoption of the Audited Standalone and Consolidated Financial Statements for FY 2025-26. Mr. Hardeep Singh (DIN: 00118729), who retires by rotation, is eligible for re-appointment as Director.

Special Business

Shareholders will vote on approving commission payment to Non-Executive Independent Directors for FY 2025-26, not exceeding 1% of net profits. The company also seeks approval to appoint Ms. Madhu Pandit (DIN: 11653915) as a Non-Executive Woman Independent Director for a term of five years from May 02, 2026, to May 01, 2031.

E-Voting and Participation

Remote e-voting commences on Monday, July 27, 2026, at 9:00 A.M. and ends on Wednesday, July 29, 2026, at 5:00 P.M. The facility is available to shareholders holding shares in electronic form as on the cut-off date. The meeting will be held via Video Conferencing or Other Audio-Visual Means (OAVM) in compliance with Ministry of Corporate Affairs and SEBI circulars.

The notice and annual report are available on the company's website and the BSE and NSE platforms. M/s MAK & CO. Company Secretaries have been appointed as the scrutinizer for the e-voting process.