Gautam Exim Limited has disclosed the resignation of its statutory auditor, M/s. B. A. Desai & Associates, effective August 06, 2026. The firm, led by proprietor CA Bharatkumar Amrutlal Desai (Membership No.: 046220), cited unavoidable personal reasons and pre-occupation with other professional commitments as the grounds for stepping down from the role. The company stated that the resignation was tendered due to these personal constraints, while the auditor’s letter specifically highlighted professional commitments and pre-occupation.

The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Additionally, the company complied with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, which mandates continuous disclosure requirements for material events. The filing confirms that there are no material concerns, disputes, or unresolved issues impacting the resignation. The auditor also confirmed that there was no disagreement with management and no other material reasons for the exit beyond those stated.

B. A. Desai & Associates was appointed as the statutory auditor on September 27, 2024. Their term was scheduled to expire at the Annual General Meeting for FY29. Prior to this resignation, the latest audit report submitted by the firm was dated May 06, 2026. The firm confirmed that it had obtained all necessary information and explanations required for the purpose of the audit during its tenure.

Auditor Details and Tenure

In accordance with Section 140(2) of the Companies Act, 2013 and Rule 8 of the Companies (Audit and Auditors) Rules, 2014, B. A. Desai & Associates stated that it would file Form ADT-3 with the Registrar of Companies within the prescribed time. The disclosure annexure further clarified that the inability to obtain sufficient appropriate audit evidence was not due to management-imposed limitations, nor did any lack of information have a significant impact on the financial statements. The auditor confirmed that alternative procedures were performed to obtain appropriate evidence as laid down in SA 705 (Revised).

Gautam Exim Limited indicated that it will take necessary steps to fill the casual vacancy caused by the resignation in accordance with the applicable provisions of the Companies Act, 2013 and SEBI (LODR) Regulations, 2015. The company will intimate the stock exchanges regarding the appointment of a new statutory auditor in due course. Managing Director Rajkumar Agrawal signed the intimation to the BSE Limited Listing Compliance Department.

Gautam Exim Ltd submitted its audited standalone financial results for the half-year and financial year ended March 31, 2026, following a query from BSE Limited regarding the clarity of previously filed figures. The company provided the rectified results along with the Statutory Audit Report, which carries an unmodified opinion from B.A. Desai & Associates, Chartered Accountants. The submission was made to comply with Regulation 30 and 33 of the SEBI (LODR) Regulations, 2015.

The audit report confirmed that the financial results present a true and fair view of the company's affairs and are in compliance with existing accounting standards. Rajkumar Agrawal, Managing Director and CFO, certified that the results do not contain any materially untrue statements or omit material facts. The auditors reported that the company has not defaulted on loan repayments or interest payments during the year and has not been declared a willful defaulter by any lender.

Statutory Dues and Contingent Liabilities

The audit report noted that undisputed statutory dues, including Provident Fund and Employees' State Insurance, have been generally deposited regularly, with a slight delay in Income Tax payments. No undisputed amounts were outstanding for more than six months from the date they became payable. The company confirmed it has not accepted any deposits from the public.

A significant portion of the report addresses Goods and Services Tax (GST) dues. The company has not deposited certain amounts due to disputes relating to alleged excess availment of Input Tax Credit (ITC), which are currently pending before the Hon'ble Gujarat High Court. The contingent liability regarding this disputed GST order is stated as Rs. 12,38,96,621.

Disputed GST Dues Breakdown

The following table details the disputed GST dues for various financial years:

The company also confirmed that it has not raised funds through initial or further public offers during the year and has not made any preferential allotment or private placement of shares. Additionally, there were no transactions relating to previously unrecorded income surrendered during the year under the Income Tax Act, 1961.