Shoora Designs Limited's statutory auditor, Piyush Kothari & Associates, resigned effective July 06, 2026, citing a disagreement over audit fees. The firm, which was appointed on December 30, 2022, submitted its resignation letter on the same date, confirming no other material reasons for the departure. The auditor's term was originally scheduled to expire on March 31, 2028.

The company disclosed that there were no concerns raised by the resigning auditor regarding the management, nor were there any material reasons for the resignation. Consequently, the Audit Committee did not deliberate on the matter, and a disclosure of its views was not applicable. The auditor also confirmed there were no pending audit issues or disagreements with the management on any matter other than the fees.

Piyush Kothari & Associates stated they had performed alternative procedures where necessary and conveyed no objection to the appointment of any other chartered accountant as auditor. The firm had submitted the audited results for the year ended March 31, 2026, prior to resigning.

Resignation Details

The Audit Committee and the Board of Shoora Designs will consider the appointment of new statutory auditors in due course to fill the casual vacancy. The company stated that the appointment would be intimated to the exchanges once finalized. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Shoora Designed Limited has disclosed a substantial acquisition of shares by Craft Emerging Market Fund PCC. The acquirer, along with Persons Acting in Concert (PAC) including Citadel Capital Fund and Elite Capital Fund, has secured a 9.94% stake in the target company. The acquisition was executed via an allotment of 460,000 equity shares carrying voting rights.

The transaction details were submitted to the stock exchanges in compliance with Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Prior to this acquisition, the acquirer and PACs held no shares or voting rights in the company. Following the allotment, their total holding stands at 460,000 shares, which constitutes 9.94% of the total share capital and 9.94% of the total diluted share capital.

The shares of Shoora Designed Limited are listed on the BSE. The equity share capital of the target company before and after the acquisition remained at 4,623,662. The date of the allotment was recorded as March 2025. The acquirer has confirmed that it does not belong to the promoter or promoter group of the target company.

The disclosure was signed by the authorised signatory on June 05, 2026, in Mauritius. The filing provides transparency regarding the change in shareholding structure to the regulatory authorities and the public.

Acquisition Details