Rashi Peripherals Limited informed stock exchanges that one of its joint statutory auditors, Deloitte Haskins & Sells LLP, has ceased to hold office. The cessation stems from the firm becoming ineligible under Section 141(3)(e) of the Companies Act, 2013.

The ineligibility arose consequent to the company's recent acquisition of a controlling ownership interest in VDA Infosolutions Private Limited. Deloitte cited a business relationship with the acquiree as the reason for their disqualification. This development also impacts the wholly owned subsidiary, Rashi Semiconductor Solutions Private Limited, where Deloitte has similarly ceased as statutory auditor for the same reasons.

Regulatory Framework and Timeline

The cessation was communicated via a letter dated October 16, 2026, and disclosed to BSE and NSE on October 17, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Deloitte had been appointed at the 37th Annual General Meeting held on September 9, 2026, with a term extending until the conclusion of the 42nd Annual General Meeting.

Continuity of Audit Services

The other joint statutory auditor, Pipara & Co. LLP, continues in office for its remaining tenure. The company stated that it has initiated the process of identifying suitable reputed firms to fill the casual vacancy created by Deloitte's exit. Necessary disclosures will be made to the stock exchanges upon completion of the appointment process, in accordance with applicable regulatory requirements.

Deloitte confirmed that there were no other material reasons for the resignation beyond the specified ineligibility. The firm noted that prior to cessation, they had submitted the audit report for the financial year ended March 31, 2026, and the limited review report for the quarter ended June 30, 2026. No concerns regarding audit evidence or management limitations were reported.

Rashi Peripherals shareholders approved a final dividend of ₹2 per equity share of face value ₹5 each for the financial year ended March 31, 2026. The resolution was passed during the company’s 37th Annual General Meeting held on September 9, 2026.

The meeting was conducted via video conferencing and other audio-visual means in compliance with Ministry of Corporate Affairs circulars. Remote e-voting was available from September 5 to September 8, 2026. A total of 4,75,76,342 votes were polled, representing 71.64% of the outstanding shares held by 61,266 shareholders on the record date of September 2, 2026.

Key Resolutions Passed

Shareholders approved several ordinary and special resolutions during the proceedings. The key outcomes include:

• Adoption of standalone and consolidated financial statements for FY26.
• Re-appointment of Mr. Sureshkumar Pansari as a director upon retirement by rotation.
• Re-appointment of Deloitte Haskins & Sells LLP as statutory auditors.
• Revision in the terms of remuneration for Managing Director Mr. Kapal Suresh Pansari.

Special Business Items

The company sought shareholder approval for enhanced borrowing limits under Section 180(1)(c) of the Companies Act, 2013. Additionally, the Board was authorized under Section 180(1)(a) to create charges on present and future assets against borrowings.

Voting Participation and Results

Promoter and promoter group shareholders demonstrated high engagement, casting votes on 96.42% of their holdings. Public institutional investors participated with 66.30% of their shares, while public non-institutional shareholders voted on 2.18% of their holdings.

Ms. Alifya Sapatwala of Mehta and Mehta was appointed as the scrutinizer for the e-voting process. The scrutinizer's report confirmed that all resolutions were passed with the requisite majority.