Shivalik Bimetal Controls has accepted the resignation of its Chief Financial Officer, Rajeev Ranjan, citing personal reasons. The departure is scheduled to take effect from the close of business hours on October 31, 2026. This leadership change impacts the company’s financial oversight structure and disclosure responsibilities under SEBI regulations.

The company notified the stock exchanges on August 06, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Alongside the regulatory filing, Shivalik Bimetal Controls submitted a copy of the resignation letter to the Board of Directors and relevant authorities, including the Registrar of Companies.

Resignation Details

Rajeev Ranjan submitted his resignation formally, requesting relief from his duties effective October 31, 2026. Upon this date, he will also cease to be the Key Managerial Personnel authorized for determining materiality of events and making disclosures to stock exchanges in terms of Regulation 30.

Regulatory Compliance

The intimation was filed under Regulation 30 read with Schedule III of the SEBI Listing Regulations. The disclosure also adheres to SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. Aarti Sahni, Company Secretary (M.No.: A25690), signed the communication to the Bombay Stock Exchange and National Stock Exchange of India Ltd.

What the Numbers Show

While no financial metrics are directly impacted by this personnel change, the transition marks a shift in the company’s compliance framework. Rajeev Ranjan will no longer hold the authority to determine materiality for regulatory disclosures post-October 31, 2026. The company must appoint a successor to ensure continuity in financial reporting and regulatory compliance.

Shivalik Bimetal Controls Limited has disclosed the resignation of M/s Arora Gupta & Co., Chartered Accountants (FRN: 021313C), as statutory auditors for two of its wholly-owned subsidiaries. The Board of Directors noted the resignations in a meeting held on August 06, 2026, with the changes taking effect immediately. This development requires the company to appoint new statutory auditors to ensure continuous compliance with regulatory standards for its subsidiary operations.

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular no. SEBI/HO/CFD/CFDPoD1/P/CIR/2023/123 dated July 13, 2023. The affected entities are Shivalik Engineered Products Private Limited and Shivalik Bimetal Engineers Private Limited. Both firms had been appointed for five-year terms following shareholder resolutions passed in 2022.

Arora Gupta & Co. stated that the resignations stem from practical difficulties in deploying adequate audit resources commensurate with the expanded requirements. Since becoming wholly-owned subsidiaries of the listed parent, both entities have witnessed significant growth in operational scale and complexity. This enlargement has triggered broader applicability of accounting standards and listed-company regulations, substantially increasing the scope, volume, and resource demands for statutory audits.

The firm confirmed that it completed the statutory audits for standalone financial statements up to March 31, 2026, and limited reviews for the quarter ended June 30, 2026, prior to stepping down. In its resignation letters, the auditor explicitly denied any disagreement with management or the Board of Directors. Furthermore, the firm asserted that it had not identified any fraud, suspected fraud, material irregularity, or other matters requiring disclosure to shareholders or regulators under the Companies Act, 2013 or SEBI Listing Regulations.

What the Numbers Show

The timing of the resignation coincides with the completion of the FY26 audit cycle, suggesting a strategic exit point rather than a mid-term disruption. However, the cited reason—resource constraints due to expanded compliance scope—highlights the operational burden placed on smaller audit firms when their clients become part of larger listed groups. For Shivalik Bimetal Controls, this necessitates a swift appointment process to avoid gaps in statutory oversight for its key manufacturing subsidiaries.

The company secretary, Aarti Sahni (M. No.: A25690), submitted the intimation to both BSE Limited and National Stock Exchange of India Ltd. on August 06, 2026. The filing included Annexure-A detailing the resignation particulars and Annexure-B containing the original resignation letters from Amit Arora, Partner at Arora Gupta & Co. (Membership No.: 514828).