Motisons Jewellers appoints N.K. Aswani as auditor, re-appoints directors
- Appointed M/s. N.K. Aswani & Co. as statutory auditors for FY27-FY31
- Re-appointed Sushil Kumar Gangwal, Sunil Chordia, and Vikas Kaler as independent directors
- Previous auditor M/s. Keyur Shah & Co. tenure concluded at 15th AGM
- Meeting held via video conferencing on September 28, 2026
*this image is generated using AI for illustrative purposes only.
Motisons Jewellers Limited approved the appointment of M/s. N.K. Aswani & Co. as statutory auditors for a five-year term during its 15th Annual General Meeting held on September 28, 2026. The meeting also ratified the re-appointment of three non-executive independent directors.
The appointment of the new audit firm follows the conclusion of the tenure of the previous auditors, M/s. Keyur Shah & Co., whose term ended with this AGM. Shareholders approved the engagement of M/s. N.K. Aswani & Co., a peer-reviewed proprietorship firm, for the financial years 2026-27 through 2030-31. The recommendation was based on the firm's audit experience, market standing, and technical expertise as assessed by the Audit Committee.
Director reappointments
The shareholders passed ordinary resolutions for the reappointment of directors retiring by rotation. Mr. Laksh Chhabra and Mrs. Namita Chhabra were both reappointed to the board following their retirement by rotation at this meeting.
Special business items involved the reappointment of three non-executive independent directors for a second term of five consecutive years. These resolutions required special approval due to the nature of the appointments. The re-appointments are effective from May 25, 2027, for Mr. Gangwal and Mr. Chordia, and September 15, 2027, for Mr. Kaler.
| Resolution Item | Director Name | Role | Term Start Date | Type |
|---|---|---|---|---|
| Item 5 | Sushil Kumar Gangwal | Non-Executive Independent Director | May 25, 2027 | Special |
| Item 6 | Sunil Chordia | Non-Executive Independent Director | May 25, 2027 | Special |
| Item 7 | Vikas Kaler | Non-Executive Independent Director | September 15, 2027 | Special |
Voting and attendance details
The meeting commenced at 3:30 pm and concluded at 4:23 pm with a quorum present. While most directors attended, Managing Director Sanjay Chhabra and Director Kajal Chhabra were absent due to preoccupation. The Chairman of the Audit Committee, Nomination and Remuneration Committee, and Stakeholders’ Relationship Committee were present.
Remote e-voting was available from September 25, 2026, to September 27, 2026. Members who did not vote remotely could cast their votes electronically during the meeting. The scrutinizer’s report on voting results will be submitted separately to the stock exchanges in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Historical Stock Returns for Motisons Jewellers
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.06% | -1.42% | +10.74% | +49.83% | -3.32% | +74.13% |
How might the change in statutory auditors influence Motisons Jewellers' financial reporting transparency and investor confidence in the upcoming fiscal year?
What strategic implications arise from reappointing three independent directors for a second five-year term, particularly regarding board diversity and long-term governance stability?
Given the absence of the Managing Director and a director at the AGM, what measures will the company take to ensure robust stakeholder engagement and address any potential governance concerns?
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