Dolat Algotech Limited appointed M/s. Vijay Mehta & Co. as its Statutory Auditors for a five-year term starting FY27. The board also approved the appointment of Vijayatta Jaiswal as an Additional Director and Independent Director, effective November 1, 2026.

The appointments were approved during the Board meeting held on October 8, 2026. The auditor appointment is subject to shareholder approval, while the director appointment requires prior approval from stock exchanges where the company is registered as a stock broker.

Auditor appointment details

M/s. Vijay Mehta & Co., Chartered Accountants (ICAI Firm Registration No. 111418W), was recommended by the Audit Committee for a period of five consecutive years, covering FY27 to FY31. The firm has over 44 years of professional standing, originally established in 1981.

CA Vijay Mehta brings more than four decades of experience in taxation and audit. CA Mrinal A. Mehta, a partner with over two decades of experience, previously worked with Price Waterhouse Coopers. The firm’s expertise spans direct and indirect taxes, statutory audits, and business consultancy across sectors including manufacturing, cement, and financial services.

Independent director profile

Vijayatta Jaiswal was appointed based on the Nomination and Remuneration Committee’s recommendation. She is designated as an Independent Director for five years, from November 1, 2026, to October 31, 2031. Her tenure is contingent upon receiving necessary approvals from regulatory bodies and shareholders.

Jaiswal qualified as a Chartered Accountant in November 1997 and holds a B.Com. (Hons.) degree from the University of Calcutta. She is currently a Senior Partner at Stars Co LLP, Chartered Accountants. Her professional background includes over two decades of experience in taxation, audits, and client advisory services.

Governance and compliance

Jaiswal is not related to any directors of the company and is not debarred from holding office by SEBI or other authorities. She currently serves as an Independent Director at Homezone Rubber Solutions Ltd and previously served at Rishiroop Ltd for over ten years.

What the numbers show

The simultaneous renewal of the statutory audit function and the addition of an independent director with extensive tax and audit expertise suggests a strategic focus on strengthening internal governance and compliance frameworks. This aligns with the company’s status as a registered stock broker, where regulatory adherence is critical.

Dolat Algotech Limited passed all seven resolutions at its 45th Annual General Meeting held on September 29, 2026. The company adopted its audited standalone and consolidated financial statements for FY26 and approved related party transactions. While the resolutions secured requisite majority, institutional shareholders voted against the re-appointment of Managing Director Pankaj D. Shah and remuneration increments for related parties.

The meeting, conducted via Video Conferencing, saw statutory auditors M/s. V. J. Shah & Co cease their tenure upon completion of their second term. The voting results, submitted to BSE and NSE under Regulation 44(3) of SEBI LODR Regulations, 2015, reveal a divergence in voting patterns between promoter groups and public institutions on governance-related items.

Voting Results Breakdown

The promoters and promoter group, holding 131,104,059 shares, voted in favor of the financial statements with near-unanimous support. However, their participation was restricted for items where they were deemed interested parties, such as the re-appointment of Pankaj D. Shah and remuneration approvals for relatives.

For the adoption of standalone and consolidated financial statements (Resolutions 1 and 2), public institutions voted unanimously in favor. In contrast, for the re-appointment of Pankaj D. Shah (Resolution 3), public institutions cast 31,528 votes against compared to 26,639 votes in favor, representing a 54.20% opposition rate from this segment. Despite this, the resolution passed due to overwhelming support from non-institutional public shareholders.

Governance and Auditor Cessation

Mr. Thomas Fernandes, Independent Director, chaired the meeting. The e-voting results were scrutinized by Mr. Dinesh Kumar Deora, Practicing Company Secretary. The Secretarial Audit Report for FY26 contained no qualifications or adverse remarks.

A key governance update is the cessation of statutory auditors M/s. V. J. Shah & Co (Firm Registration No. 109823W). Their tenure concluded on September 29, 2026, following the completion of two consecutive terms as mandated by the Companies Act, 2013. No new auditor appointment was disclosed in this specific filing.

What the Numbers Show

The voting data highlights a distinct split in shareholder sentiment regarding governance versus operational reporting. While public institutions fully endorsed the financial statements and related party transactions (Resolutions 1, 2, 6, and 7), they opposed the re-appointment of the Managing Director and remuneration increments for his relatives (Resolutions 3, 4, and 5). This suggests that while institutional investors accept the company's financial disclosures and transaction structures, they have reservations about the specific leadership continuity and compensation practices involving promoter family members. The opposition from institutions on these three resolutions was consistent, with identical vote counts of 26,639 for and 31,528 against across all three items.