Indus Fila Limited Completes Statutory Auditor Transition with CAAG & Associates
Indus Fila Limited has successfully completed a statutory auditor transition, appointing M/s. CAAG & Associates as new auditors for FY 2025-26 following the resignation of M/s. Tolwani & Associates on April 29, 2026. The change was disclosed under SEBI LODR Regulation 30 with full regulatory compliance maintained.
*this image is generated using AI for illustrative purposes only.
Indus Fila Limited has completed a statutory auditor transition following the resignation of M/s. Tolwani & Associates and subsequent appointment of M/s. CAAG & Associates, both effective April 29, 2026. The company disclosed the changes to BSE Limited and National Stock Exchange of India under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The resignation of M/s. Tolwani & Associates was attributed to their pre-occupation with other assignments, creating a casual vacancy in the statutory auditor position. Based on the Audit Committee's recommendation, the Board of Directors approved the appointment of M/s. CAAG & Associates at their meeting held on April 29, 2026.
Auditor Transition Details
| Particular: | Details |
|---|---|
| Resigning Auditor: | M/s. Tolwani & Associates |
| Resignation Date: | April 29, 2026 |
| Reason for Resignation: | Pre-occupation with other assignments |
| New Auditor: | M/s. CAAG & Associates |
| Appointment Date: | April 29, 2026 |
| Term of Appointment: | FY 2025-26 |
| Office Duration: | Until conclusion of ensuing AGM |
New Auditor Profile
M/s. CAAG & Associates, established in 2002, brings over 24 years of experience in delivering tech-driven financial solutions. The firm operates through offices in Aurangabad, Mumbai, and Surat, offering comprehensive professional services including Direct and Indirect Tax consultancy, Statutory and Internal Audits, and Corporate Law and Secretarial practice.
The firm maintains a significant 12-year track record in Statutory Bank Branch Audits for major institutions including SBI and Bank of Maharashtra. Their expertise extends to Transaction Advisory covering mergers and acquisitions, corporate restructuring, financial due diligence, Project Finance, and share valuation services.
Outgoing Auditor Background
M/s. Tolwani & Associates was originally appointed on September 30, 2025, with a term scheduled to expire in 2029-30. Prior to resignation, the firm had submitted the Limited Review Report of Standalone Unaudited Financial Results for the quarter ended December 31, 2025, and year-to-date results for the period April 1, 2025, to December 31, 2025.
| Outgoing Auditor Details: | Information |
|---|---|
| Firm Name: | Tolwani & Associates |
| Registration Number: | 143638W |
| Partner: | Shashank Tolwani |
| Membership Number: | 162623 |
| Original Appointment: | September 30, 2025 |
| Scheduled Term End: | 2029-30 |
| Firm Address: | Flat No. 2, 2nd Floor, Narayan Plaza Cannaught, Besides Central Excise Office, CIDCO, Aurangabad – 431003, Maharashtra |
Regulatory Compliance
The auditor transition was executed in full compliance with SEBI Master Circular No. HO/49/14/14(7)/2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The resigning auditor confirmed that no material reasons existed for the resignation beyond the stated pre-occupation with other assignments.
| Compliance Details: | Information |
|---|---|
| Regulation: | SEBI LODR Regulation 30 |
| Disclosure Date: | April 30, 2026 |
| BSE Scrip Code: | 532821 |
| NSE Symbol: | INDUSFILA |
| Signing Officer: | Charul Amit Houzwala |
| Designation: | Company Secretary and Compliance Officer |
| Company CIN: | L17121KA1999PLC025320 |
Company Secretary and Compliance Officer Charul Amit Houzwala signed the regulatory disclosure on April 30, 2026, ensuring all required documentation was submitted to both stock exchanges. The transition maintains continuity in the company's audit functions while adhering to all regulatory requirements.
Will the new auditor M/s. CAAG & Associates be reappointed for a full term at the upcoming AGM, and what factors might influence this decision?
How might the auditor transition impact Indus Fila's upcoming annual audit timeline and financial reporting schedule for FY 2025-26?
Could the frequent auditor changes (appointed in September 2025, resigned April 2026) signal underlying operational challenges or governance concerns at Indus Fila?
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