Lambodhara Textiles Limited announced that MDS & Associates LLP has resigned as its secretarial auditor, with the resignation taking effect on July 31, 2026. The firm cited pre-occupation in other assignments as the sole reason for its departure. This development requires the company to appoint a new secretarial auditor to ensure continued compliance with regulatory requirements under the Companies Act and SEBI regulations.

The resignation was communicated to the National Stock Exchange of India Limited and BSE Limited pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure also references SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. MDS & Associates LLP confirmed that there are no material reasons other than pre-occupation for their resignation and stated they have no objection to the appointment of a new secretarial auditor.

MDS & Associates LLP was originally appointed as the secretarial auditor at the Annual General Meeting held on September 22, 2025. The appointment was made for a period of five consecutive financial years, commencing from FY26 to FY30, pursuant to Section 204 of the Companies Act, 2013 and Regulation 24A of the SEBI (LODR) Regulations, 2015. The firm holds Peer Review Certificate No. 6468/2025.

Resignation Details

The resignation letter was signed by M D Selvaraj, Managing Partner of MDS & Associates LLP, who holds FCS No. 960 and CP No. 411. The intimation from Lambodhara Textiles was signed by Bosco Giulia, Whole-Time Director of the company.

What This Means for Compliance

The departure of the secretarial auditor midway through its five-year tenure necessitates an immediate replacement to maintain statutory compliance. Secretarial audits are critical for ensuring adherence to corporate governance norms and regulatory filings. The company must now initiate the process to appoint a new firm, likely requiring approval from its Board of Directors and subsequent ratification by shareholders if mandated by the Articles of Association or specific regulatory provisions for mid-term appointments.

lambodhara textiles received an order from the Joint Commissioner of Commercial Taxes (Appeals), Dharwad Division, dismissing its appeal against a Goods and Services Tax (GST) demand. The appellate order, dated July 2, 2026, was issued under Section 107(11) of the Karnataka Goods and Services Tax Act, 2017.

The dispute originated from an order by the Commercial Tax Officer (Enforcement-4), Navanagar, Hubballi, directing the company to pay an aggregate demand of Rs. 7,23,902. This amount included a penalty of Rs. 3,61,951 under the Central Goods and Services Tax (CGST) Act and Rs. 3,61,951 under the State Goods and Services Tax (SGST) Act. The company had initially intimated the exchange regarding this demand on March 16, 2024.

Following the receipt of the initial order, Lambodhara Textiles Limited paid the applicable amount and filed an appeal before the Joint Commissioner of Commercial Taxes (Appeals) under Appeal No. APL/GST-481/2024-25. The appellate authority has now dismissed this appeal.

Financial Impact

The company disclosed that the order does not have any material impact on its financials, operations, or other activities. The intimation was submitted to the National Stock Exchange of India Limited and BSE Limited in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

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