Riddhi Corporate Services Limited conducted its Extraordinary General Meeting (EGM) on May 23, 2026, through video conferencing and other audio-visual means. The meeting was chaired by Mr. Pravinchandra Kodarlal Gor, Chairman and Managing Director, and attended by key company officials including Mr. Alpit Pravinchandra Gor, Wholetime Director, and Mr. Nehal Y Kargatia, CEO Director. The primary agenda was the appointment of statutory auditors to fill a casual vacancy.

The proceedings commenced at 12:00 PM IST and concluded at 12:30 PM IST. Mr. Mustafa Sibatra, Company Secretary, oversaw the e-voting process, which was administered by CDSL E-Voting. Remote e-voting was available from May 20, 2026, to May 22, 2026, with additional voting facilities provided for shareholders present during the meeting. Mr. Amrish Gandhi of Amrish Gandhi & Associates served as the Scrutinizer for the process.

Resolutions Passed

The company transacted special business regarding the appointment of auditors. The resolution received shareholder approval through the e-voting mechanism.

The meeting confirmed the requisite quorum under Section 103 of the Companies Act, 2013. No questions were raised by the shareholders during the proceedings. The consolidated scrutinizer's report will be made available on the company's website and the CDSL platform within two working days. The results will also be communicated to the Stock Exchange.

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.