Luxury Time Ltd Board Meeting Scheduled for August 14, 2026 to Consider Key Corporate Matters

3 min read Updated on 05 Aug 2026, 08:03 PM

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Suketu GScanX News Team

AI Summary

Luxury Time Ltd has scheduled a Board of Directors meeting for August 14, 2026, to consider approval of the Board's Report for the financial year ended March 31, 2026, and a change in statutory auditors from M/s S A R N U M & Co. LLP to M/s S A H A S & Associates, Chartered Accountants. The board will also deliberate on a proposal for variation in the utilisation of IPO proceeds, subject to member approval via Special Resolution through Postal Ballot. Additionally, the meeting will address the re-appointment of Mr. Pawan Chohan as director, re-appointment of secretarial and internal auditors for FY 2026–27, and planning for the ensuing Annual General Meeting including appointment of NSDL as e-voting agency.

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Luxury Time Ltd has informed BSE of a scheduled Board of Directors meeting on Friday, August 14, 2026, pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting will deliberate on a broad set of corporate governance and administrative matters, including auditor changes, director re-appointment, IPO fund utilisation, and Annual General Meeting (AGM) planning.

Key Agenda Items

The board meeting covers a wide range of significant corporate actions. The following table summarises the primary agenda items scheduled for consideration:

Agenda Item:	Details
Board's Report:	Approval of Board's Report and annexures for the financial year ended March 31, 2026
Director Re-appointment:	Re-appointment of Mr. Pawan Chohan (DIN: 00070461), retiring by rotation, at the ensuing AGM
Statutory Auditor Resignation:	Taking note of resignation of M/s S A R N U M & Co. LLP, Chartered Accountants
Statutory Auditor Appointment:	Appointment of M/s S A H A S & Associates, Chartered Accountants to fill the casual vacancy, subject to member approval
Secretarial Auditor Re-appointment:	Re-appointment of M/s Nilesh A. Pradhan & Co., LLP, Company Secretaries for FY 2026–27
Internal Auditor Re-appointment:	Re-appointment of M/s Anil Singhal and Associates, Chartered Accountants for FY 2026–27
AGM Planning:	Fixing date, time, and venue of the ensuing Annual General Meeting and approving the Notice
IPO Proceeds Variation:	Proposal for variation in objects of utilisation of IPO proceeds, subject to member approval via Special Resolution through Postal Ballot
Postal Ballot:	Approval of Postal Ballot Notice, Explanatory Statement, calendar of events, and related matters
Scrutinizer & e-Voting Agency:	Appointment of Scrutinizer for AGM and Postal Ballot; appointment of NSDL as e-voting agency
Whistle Blower Policy:	Consideration and approval of amendment to the Whistle Blower Policy

Auditor Transition

A notable item on the agenda is the change in statutory auditors. The board will take note of the resignation of M/s S A R N U M & Co. LLP, Chartered Accountants as the Statutory Auditors of the company. In their place, the board will consider the appointment of M/s S A H A S & Associates, Chartered Accountants to fill the casual vacancy arising from the resignation. This appointment will be subject to the approval of the members of the company at the ensuing Annual General Meeting.

IPO Proceeds Utilisation Variation

Another significant agenda item involves a proposal for variation in the objects of utilisation of proceeds raised through the company's Initial Public Offer (IPO). This proposal will require approval from the members by way of a Special Resolution through Postal Ballot. The board will also consider and approve the Postal Ballot Notice, along with the Explanatory Statement, calendar of events, and other related matters in connection therewith.

AGM and Governance Preparations

The board will fix the date, time, and venue of the ensuing Annual General Meeting and approve the Notice convening the same. Additionally, the board will appoint a Scrutinizer for both the AGM and the Postal Ballot, and will designate National Securities Depository Limited (NSDL) as the e-voting agency for these proceedings. An amendment to the company's Whistle Blower Policy is also on the agenda for consideration and approval.

The meeting notice was signed by Ashok Goel, Chairman & Managing Director (DIN: 00783117), and submitted to BSE on August 05, 2026. Luxury Time Ltd is registered at 713, Pearls Omaxe Building, Tower-2, Netaji Subhash Place, New Delhi – 110034.

Historical Stock Returns for Luxury Time

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.78%	-2.49%	-2.99%	-1.23%	-60.27%	-60.27%

What specific strategic shifts or operational challenges prompted Luxury Time Ltd to seek a variation in the utilisation of its IPO proceeds?

How might the resignation of M/s S A R N U M & Co. LLP and the appointment of a new statutory auditor impact investor confidence or future audit findings?

Will the re-appointment of Mr. Pawan Chohan signal continuity in leadership strategy, or are there anticipated changes in corporate governance direction under his continued tenure?

Auditor Details and Tenure

M/s. Sarnum & Co LLP (Firm Registration No. 022686N/N500491) was appointed as the statutory auditor on September 30, 2025. The term was scheduled to expire on March 31, 2030. Prior to this resignation, the firm submitted the audit report for the year ended March 31, 2026, on May 15, 2026. The partner associated with the engagement is Santosh Ramanuj Tiwari (Membership No. 513913), based in Noida, Uttar Pradesh.

Particulars	Details
Auditor Name	M/s. Sarnum & Co LLP (Formerly Santosh Ramanuj & Co)
Firm Registration No.	022686N/N500491
Appointment Date	September 30, 2025
Scheduled Term Expiry	March 31, 2030
Effective Resignation Date	July 25, 2026
Reason for Resignation	Pre-occupation and increased professional commitments

Regulatory Compliance and Next Steps

The Audit Committee and the Board of Directors of Luxury Time Limited are expected to take note of the resignation at their ensuing meetings. The company will take necessary steps to fill the casual vacancy in accordance with the applicable provisions of the Companies Act, 2013 and the SEBI Listing Regulations. As per the disclosure, the views of the Audit Committee regarding the resignation are not applicable since no concerns were raised by the outgoing auditor.

What the Numbers Show

The resignation occurs shortly after the submission of the annual audit report for FY26, indicating a transition during a standard reporting cycle rather than mid-audit complications. The confirmation of "no concerns" and "no material reasons" suggests an amicable separation driven by capacity constraints at the audit firm rather than governance or financial irregularities at Luxury Time Limited. Shareholders should monitor subsequent filings for the appointment of the new statutory auditor to ensure continuity in financial oversight.

Historical Stock Returns for Luxury Time

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.78%	-2.49%	-2.99%	-1.23%	-60.27%	-60.27%

Which audit firm is likely to be appointed as the new statutory auditor, and how might their reputation or fee structure impact Luxury Time Limited's future financial reporting costs?

Given the short tenure of the outgoing auditor, will the new firm require a transition period that could delay the submission of interim financial results for the upcoming quarter?

How might this sudden change in auditing partners influence investor confidence and the stock's volatility on BSE in the immediate term following the appointment of the successor?