Garuda Construction & Engineering Appoints New Secretarial Auditor for FY2025-26
Garuda Construction & Engineering Limited's Board of Directors, at its meeting on May 30, 2026, accepted the resignation of Ms. Aakruti Somani (Peer Review No.: 2083/2022) as Secretarial Auditor for FY2025-26, citing professional commitments and the complexity of the assignment. In her place, the Board appointed M/s Ketan Vyas & Company, Company Secretaries (Peer Review No.: 6867/2025), an Indore-based ICSI Peer Reviewed Firm, as the new Secretarial Auditor for the financial year 2025-26. The disclosures were made pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015.
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Garuda Construction & Engineering Limited announced a change in its Secretarial Auditor for the financial year 2025-26, following a Board of Directors meeting held on Saturday, May 30, 2026. The Board, acting on the recommendation of the Audit Committee, accepted the resignation of the incumbent Secretarial Auditor and approved the appointment of a new firm in her place. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with relevant SEBI circulars.
Resignation of Secretarial Auditor
Ms. Aakruti Somani, Practicing Company Secretary (Peer Review No.: 2083/2022), tendered her resignation as Secretarial Auditor of Garuda Construction & Engineering with immediate effect for the financial year ending March 31, 2026. In her resignation letter dated May 30, 2026, she cited the extensive scope and complexity of the secretarial audit assignment, differences in professional approach concerning the engagement, and existing professional commitments as reasons for her inability to devote the requisite time and resources to carry out the audit to the desired professional standards. She confirmed there was no other material reason for her resignation beyond those stated.
The key details of the resignation, as disclosed under Regulation 30, are summarised below:
| Parameter: | Details |
|---|---|
| Name: | Ms. Aakruti Somani, Practicing Company Secretary |
| Peer Review No.: | 2083/2022 |
| Reason for Change: | Resignation — other professional commitments |
| Date of Cessation: | May 30, 2026 |
| Financial Year: | 2025-26 |
Appointment of New Secretarial Auditor
Following the resignation, the Board appointed M/s Ketan Vyas & Company, Company Secretaries (Peer Review No.: 6867/2025), as the Secretarial Auditor of the Company for the financial year 2025-26. The firm is based in Indore, Madhya Pradesh, and is a Peer Reviewed Firm registered with the Institute of Company Secretaries of India (ICSI), certified under its Peer Review Guidelines and authorised to carry out regulatory and compliance-related assignments, including Secretarial Audits for listed companies.
The key details of the appointment are as follows:
| Parameter: | Details |
|---|---|
| Name: | M/s Ketan Vyas & Company, Company Secretaries |
| Peer Review No.: | 6867/2025 |
| Reason for Change: | Appointment as Secretarial Auditor |
| Date of Appointment: | May 30, 2026 |
| Scope: | Secretarial Audit for Financial Year 2025-26 |
Profile of the Newly Appointed Firm
Ketan Vyas & Co. is a professionally managed firm of Company Secretaries specialising in a range of corporate and regulatory services. The firm's areas of expertise include:
- Corporate Compliance and Secretarial Audits
- Regulatory Approvals and SEBI & Listing Compliances
- Start-up Advisory
- Trademark and DSC Services
The firm is led by Mr. Ketan Vyas, a Fellow Member of ICSI, who holds qualifications including B.Com., LL.B., and a Certified Independent Director certification from the Indian Institute of Corporate Affairs (IICA). With 8+ years of experience, he specialises in secretarial practice, legal compliance, SEBI listing regulations, IPR protection, and corporate governance.
Board Meeting Details
The Board of Directors meeting was held on Saturday, May 30, 2026, commencing at 04:40 p.m. and concluding at 05:00 p.m. The communication was signed by Pravin Kumar Brijendra Kumar Agarwal, Managing Director and Chairman (DIN: 00845482), on behalf of Garuda Construction & Engineering Limited. The disclosures were filed in compliance with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/CIR/P/2024/185 dated December 31, 2024.
Historical Stock Returns for Garuda Construction & Engineering
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.44% | -0.19% | +1.26% | -20.85% | +52.85% | +60.46% |
Will the resignation citing 'differences in professional approach' trigger any enhanced scrutiny from SEBI regarding Garuda's internal compliance standards?
How will the change in auditors midway through the financial year impact the timeline and quality of the final secretarial audit report?
Does the appointment of a firm based in Indore signal a strategic shift in Garuda Construction’s vendor management or cost optimization strategies?
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