Oxford Industries Limited appointed Mr. Saroj Kumar Choudhury as its Chief Financial Officer effective July 17, 2026, during its board meeting. The board also approved the resignation of the existing statutory auditor and the appointment of a new firm, alongside a proposal to reduce the share capital by 99% due to accumulated business losses. These decisions are subject to shareholder approval in the ensuing Annual General Meeting.

The board accepted the resignation of M/s. PAMS & Associates, Chartered Accountants, effective June 19, 2026. The resignation was attributed to geographical constraints, as the firm is based in Bhubaneswar while the company operates from Mumbai. Consequently, the board appointed M/s. Lipika and Associates, Chartered Accountants, as the statutory auditor for a term of five years from FY2026-2027 to FY2030-2031, pending member approval.

Mr. Saroj Kumar Choudhury, who is also the Managing Director, was appointed as the Chief Financial Officer. He recently acquired promoter status following an open offer, holding 27,61,576 shares, which constitutes 46.46% of the paid-up capital. The former promoter, Mr. Mazher N Laila, has ceased to be a promoter and is now classified as a public shareholder.

The board proposed shifting the registered office from Maharashtra to Orissa and approved the enlargement of the Main Object Clause of the Memorandum of Association to include healthcare and pharmaceutical businesses. This involves the insertion of new clauses to establish hospitals, nursing homes, and diagnostic centres, and to trade in pharmaceutical products and medical equipment.

The meeting was held in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board also appointed a registered valuer for the valuation report regarding the capital reduction.

Oxford Industries Limited’s statutory auditor, M/s. PAMS & Associates Chartered Accountants, resigned effective June 19, 2026, citing geographical constraints that have made it impractical to efficiently conduct audit procedures. The firm stated that the closure of its Mumbai branch in 2024 and the increasing compliance requirements for a listed entity have made it difficult to manage the audit from its Bhubaneswar office. The resignation creates a casual vacancy that the company’s Board and Audit Committee will address in upcoming meetings by appointing a new statutory auditor.

The auditor confirmed there are no other material reasons for the resignation and no unresolved issues or qualifications requiring the attention of members or creditors. M/s. PAMS & Associates was appointed at the 44th Annual General Meeting held on September 23, 2025, with a term scheduled to expire on March 31, 2030. The firm had submitted the audit report for the year ended March 31, 2026, on May 28, 2026.

Auditor Details

The company has intimated the stock exchanges regarding the resignation pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The auditor will file Form ADT-3 with the Registrar of Companies within the prescribed time.