Riddhi Corporate Services Limited appointed M/s. Aparajita V Shah & Co as its statutory auditor to fill a casual vacancy at its Extraordinary General Meeting (EGM) held on May 23, 2026. The resolution to appoint the Ahmedabad-based firm received overwhelming shareholder approval, with 99.9999% of votes cast in favor. The appointment fills the vacancy created by the resignation of M/s Nitin K Shah & Co.

The EGM was conducted via video conferencing and other audio-visual means, with 17 shareholders attending through this facility. Remote e-voting was conducted between May 20, 2026, and May 22, 2026, using the CDSL e-voting platform. Mr. Amrish Gandhi of Amrish Gandhi & Associates served as the Scrutinizer for the process, overseeing the electronic voting mechanism.

Voting Results

The ordinary resolution to confirm the appointment of M/s. Aparajita V Shah & Co was passed with a significant majority. A total of 3,878,293 votes were cast in favor, while only 2 votes were cast against the resolution. No invalid votes were recorded during the process.

The meeting confirmed the requisite quorum under Section 103 of the Companies Act, 2013. The scrutinizer's report, including the detailed voting results, will be made available on the company's website and the CDSL platform. The results have also been communicated to the Stock Exchange in compliance with Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Riddhi Corporate Services Limited has announced the immediate resignation of its statutory auditor, M/s Nitin K Shah & Co., Chartered Accountants, effective April 22, 2026. The company informed the Bombay Stock Exchange about this development in compliance with Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Auditor Appointment and Resignation Timeline

The auditing firm's association with Riddhi Corporate Services followed a complex timeline involving previous resignations and reappointments:

Reason for Resignation

Nitin K Shah & Co. provided detailed explanations for their resignation in their letter to the Board of Directors. The auditing firm revealed that they had previously resigned during the COVID-19 pandemic when their peer review process was ongoing but could not be completed due to severe pandemic conditions. At that time, they resigned before completing their term, which was scheduled to conclude at the ensuing Annual General Meeting.

The firm accepted the recent statutory audit appointment under the belief that their previous resignation before completing the term would not affect their eligibility for reappointment. However, upon reviewing technical compliance aspects and to accept greater responsibility for regulatory compliance, they determined that a cooling-off period of five consecutive years is required before re-appointment under Section 139 of the Companies Act, 2013.

Compliance and Governance Considerations

The resignation letter emphasized the auditor's commitment to maintaining the highest standards of corporate governance and ensuring full compliance with applicable laws. The auditing firm confirmed that their resignation was solely due to the cooling-off period requirements and stated that there were no other circumstances requiring disclosure under applicable laws.

Key confirmations from the auditor:

• No disagreement with management or Board of Directors on financial statements
• No issues with accounting policies or auditing procedures
• Full cooperation promised for smooth transition to incoming auditor
• No other material concerns beyond stated compliance requirements

Company Response and Next Steps

Riddhi Corporate Services, through Company Secretary Mustafa Mufaddalbhai Sibatra, confirmed receipt of the resignation and stated that there were no additional reasons beyond those mentioned in the auditor's resignation letter. The company will need to initiate the process for appointing a new statutory auditor in accordance with applicable provisions of law.

The auditing firm, with Firm Registration Number 107140W, was represented by CA Vaibhav N. Shah as Proprietor (Membership No. 116817). Their office is located at Empire Tower, C.G. Road, Ahmedabad, and they had been serving to fill a casual vacancy until the conclusion of the Annual General Meeting for financial year 2025-26.