Oswal Agro Mills appointed BGMG & Associates as its statutory auditor to fill a casual vacancy. The company’s board also approved the notice for its 46th Annual General Meeting (AGM), scheduled for September 29, 2026.

The appointment replaces Mehta Chokshi & Shah LLP, who resigned from the role. BGMG & Associates will hold office until the conclusion of the ensuing AGM. The board recommended a five-year term for the firm, commencing from the conclusion of the 46th AGM and extending until the 51st AGM in 2031.

Corporate Governance Updates

The board approved the Directors’ Report and the draft notice for the AGM. The meeting will be held via video conferencing or other audio-visual means. It is deemed to be convened at the company’s registered office in New Delhi.

The register of members and share transfer books will remain closed from September 22, 2026, to September 29, 2026, to determine eligibility for the AGM.

The board also appointed Anuj Gupta & Associates, Practising Company Secretaries, as the scrutinizer for the upcoming annual general meeting.

Auditor Profile

BGMG & Associates, founded in 2012, specializes in statutory audits under IGAAP, Ind AS, and IFRS. The firm serves over 100 corporate clients and offers services including tax audit, internal audit, and transaction due diligence.

oswal agro mills has lost its statutory auditor, M/s. Mehta Chokshi & Shah LLP, following a disagreement over professional fees for the upcoming financial year. The chartered accountancy firm tendered its resignation effective from the closing working hours of August 11, 2026, stating that its fee proposal for continuing as statutory auditors for FY27 was not approved by the company. This development creates a casual vacancy in the auditor’s office that the company must fill in accordance with the Companies Act, 2013.

The resignation was disclosed to the Bombay Stock Exchange and the National Stock Exchange of India Limited on August 12, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing also referenced SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. Aruna Oswal, Chairperson of Oswal Agro Mills Limited, signed the intimation letter submitted to the exchanges.

Mehta Chokshi & Shah LLP, which holds Firm Registration No. 106201W/W100598, had been appointed as the statutory auditors at the Annual General Meeting held on September 25, 2025, under Section 139 of the Companies Act, 2013. In its resignation letter addressed to the Board of Directors, the firm explained that it could not continue to discharge its duties without agreed remuneration commensurate with the scope, effort, and professional responsibility involved. Partner Rakesh Agarwal (Membership No. 170685) signed the resignation document.

The auditor explicitly stated that the decision to resign was a business decision arising solely from the non-agreement on fees. The firm confirmed that there are no other reasons, facts, or circumstances connected with the resignation that need to be brought to the attention of the members or creditors of the company. This clarity is significant for investors, as it rules out potential governance issues or disagreements over accounting treatments as drivers for the departure.

As per Section 140(2) of the Companies Act, 2013, Mehta Chokshi & Shah LLP is required to file a statement of resignation in Form ADT-3 with the Registrar of Companies within thirty days from the date of the resignation letter. The firm has requested the company to settle any outstanding professional fees for work already completed. It has also offered reasonable assistance and clarification to the incoming auditor to ensure a smooth transition, subject to the completion of customary professional formalities. The Board of Directors is now tasked with appointing a new statutory auditor to fill the casual vacancy under Section 139(8) of the Act.