NewsLyka Labs Appoints M/s. Nidhi Subhash Tibrewala & Co. as Cost Auditors for FY 2025-26 and 2026-27Lyka Labs Appoints M/s. Nidhi Subhash Tibrewala & Co. as Cost Auditors for FY 2025-26 and 2026-27
Lyka Labs Limited's board meeting on 31st March, 2026, resulted in the appointment of M/s. Nidhi Subhash Tibrewala & Co. as Cost Auditors for financial years 2025-26 and 2026-27. The appointment for FY 2025-26 fills a casual vacancy caused by the resignation of M/s. Rajaram M Walavalkar & Co. The Mumbai-based cost accounting firm will provide auditing services across both financial years, ensuring continuity and compliance with SEBI regulations.
*this image is generated using AI for illustrative purposes only.
Lyka Labs Limited's Board of Directors conducted a meeting on 31st March, 2026, to address critical auditing appointments following recent organizational changes. The board meeting, which ran from 12:00 pm to 1:35 pm, focused on filling a casual vacancy in the Cost Auditor position and securing auditing services for the upcoming financial year.
Key Board Decisions
The board approved two significant appointments related to cost auditing services. M/s. Nidhi Subhash Tibrewala & Co., Cost Accountants with Firm Registration Number 005417, was selected to handle the company's cost auditing requirements. This appointment addresses both immediate and future auditing needs of the organization.
| Appointment Details: | Information |
|---|---|
| Appointed Firm: | M/s. Nidhi Subhash Tibrewala & Co. |
| Firm Registration Number: | 005417 |
| Appointment Date: | 31st March, 2026 |
| Financial Years Covered: | 2025-26 and 2026-27 |
| Meeting Duration: | 12:00 pm to 1:35 pm |
Reason for Appointment
The appointment for financial year 2025-26 was necessitated by a casual vacancy created due to the resignation of the previous Cost Auditors, M/s. Rajaram M Walavalkar & Co. This change required immediate board action to ensure continuity in the company's cost auditing processes. The board also proactively appointed the same firm for the financial year 2026-27, providing stability and consistency in auditing services.
About the New Cost Auditors
M/s. Nidhi Subhash Tibrewala & Co. is a Mumbai-based firm of practicing Cost Accountants that offers a comprehensive range of services to its clientele. The firm brings professional expertise in cost accounting and auditing practices, positioning it well to handle Lyka Labs' auditing requirements across multiple financial years.
Regulatory Compliance
The appointments were made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has fulfilled its disclosure obligations by providing detailed information about the appointments, including the reasons for change and brief profiles of the appointed auditors. All relevant information has been made available on the company's website at www.lykalabs.com , ensuring transparency for stakeholders and regulatory compliance.
Historical Stock Returns for Lyka Labs
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +8.52% | +8.67% | -10.94% | -42.89% | -45.96% | +102.66% |
What factors led to the resignation of the previous Cost Auditors M/s. Rajaram M Walavalkar & Co., and could similar issues affect future auditor relationships?
How might the two-year appointment of M/s. Nidhi Subhash Tibrewala & Co. impact Lyka Labs' cost management strategies and operational efficiency going forward?
Will the change in cost auditors result in any modifications to Lyka Labs' financial reporting processes or internal cost control mechanisms?
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