fonebox retail has reappointed its internal and tax auditors for the financial year 2026-27 following a board meeting on May 30, 2026. The decisions, based on the Audit Committee's recommendations, ensure continued oversight of the company's financial reporting and compliance systems as mandated under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Board approved the re-appointment of M/s. Tatosaniya & Co LLP as the Internal Auditor. The firm, a peer-reviewed entity practicing since 2013, specializes in taxation, audit, RERA, and project financing. Its appointment for FY 2026-27 is intended to maintain the integrity of the company's internal controls and risk management frameworks.

Additionally, the Board re-appointed M/s. R K Kotadiya & Co LLP as the Tax Auditor for the same period. With over 13 years of experience in audit and assurance, taxation, and management consulting, the firm will oversee the company's tax compliance and statutory audit requirements. The firm is also qualified to conduct attestations under GST audits.

The meeting, which commenced at 4.00 p.m. and concluded at 6.00 p.m. on May 30, 2026, also addressed procedural disclosures required by the market regulator. The detailed profiles of the appointed auditors have been made available on the company's website.

Auditor Appointment Details

Fonebox Retail Limited has scheduled an Extraordinary General Meeting (EGM) on June 20, 2026, to seek shareholder approval for the acquisition of NWOM Retailers Private Limited. The transaction involves a share swap worth ₹25.74 crore, funded through the preferential allotment of 30,00,000 equity shares at ₹85.80 each. The acquisition aims to consolidate the retail footprint and generate operational synergies in the mobile phone segment.

The board approved the acquisition on May 22, 2026, via a Share Subscription and Purchase Agreement (SSPA) with sellers Mr. Pankaj Kailashnath Vasudeva, Mr. Dhrumil Pradipbhai Shah, and Mr. Rajesh Ujamshibhai Shah. To facilitate the issuance of shares, the board has proposed increasing the authorised share capital from ₹10,50,00,000 to ₹13,50,00,000. This change requires a consequential amendment to the Memorandum of Association of the company.

Key Financial Details of the Acquisition

NWOM Retailers Private Limited reported a turnover of ₹25,32,129.65 thousand for the financial year 2024-25, compared to ₹13,00,895.00 thousand in the previous fiscal year. The preferential allotment will see Mr. Pankaj Kailashnath Vasudeva and Mr. Dhrumil Pradipbhai Shah receiving shares in the promoter category, while Mr. Rajesh Ujamshibhai Shah will receive shares in the public category.

Corporate Actions and Approvals

The EGM will be held via video conferencing at 12:00 P.M. IST. Remote e-voting will commence on June 17, 2026, at 9:00 A.M. and conclude on June 19, 2026, at 5:00 P.M. The cut-off date for determining shareholder eligibility is June 13, 2026. Ms. Yashree Dixit has been appointed as the scrutinizer for the e-voting process.

Shareholders will also vote on the regularisation of appointments for Mr. Pankaj Kailashnath Vasudeva and Mr. Dhrumil Pradipbhai Shah as Executive Directors, effective May 22, 2026. Additionally, the meeting will seek approval for the remuneration of Mr. Amitkumar Gopalbhai Patel, Managing Director, Mr. Manishbhai Girishbhai Patel, Chairman, and Mr. Parth Lallubhai Desai, Director & CFO.