Simplex Castings statutory auditor resigns citing commitments
M/s. Harsh Jain & Associates resigns as statutory auditor of Simplex Castings Limited effective August 14, 2026, due to professional commitments. The firm will complete the Q1FY27 limited review report before departing. No material concerns were raised with management.
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Simplex Castings Limited announced that M/s. Harsh Jain & Associates has resigned as its statutory auditor, effective from the closing of business hours on August 14, 2026. The resignation follows a letter dated August 06, 2026, in which the audit firm cited pre-occupation with other professional commitments as the primary reason for its departure. This change in audit oversight requires the company to appoint a new statutory auditor to ensure continuity in financial reporting and regulatory compliance.
The resignation is filed pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Master Circular No. HO/49/14/14(7)2025-CFDPD2/I/3762/2026 dated January 30, 2026. The disclosure was submitted to BSE Limited and Calcutta Stock Exchange by Sangeeta Ketan Shah, Managing Director of Simplex Castings Limited.
Resignation Timeline and Scope
The transition is structured to allow the outgoing auditor to complete pending obligations. M/s. Harsh Jain & Associates will submit the limited review report for the unaudited financial results for the quarter ended June 30, 2026, during the Board Meeting scheduled for August 14, 2026. The resignation becomes effective immediately after this submission and the furnishing of all requisite certifications for the period.
| Particulars | Details |
|---|---|
| Resigning Auditor | M/s. Harsh Jain & Associates (FRN: 007639C) |
| Effective Date | August 14, 2026 |
| Reason | Pre-occupation with other professional commitments |
| Pending Deliverable | Limited Review Report for Q1FY27 (ended June 30, 2026) |
Regulatory and Corporate Governance Implications
The Audit Committee and the Board of Directors are required to note the resignation at their ensuing meetings and take necessary steps to fill the casual vacancy in accordance with the Companies Act, 2013 and SEBI Listing Regulations. The resigning auditor confirmed that there are no material concerns regarding the management of Simplex Castings Limited, and no issues were raised with the Audit Committee prior to the resignation. Consequently, the disclosure regarding the views of the Audit Committee on the resignation is not applicable.
Auditor Profile and Tenure
M/s. Harsh Jain & Associates was appointed as the statutory auditor on September 28, 2024, with a term scheduled to expire until the conclusion of the company’s 49th Annual General Meeting in 2029. The firm had previously issued the audit report for the financial year ended March 31, 2026, on May 28, 2026. The firm is headquartered in Durg, Chhattisgarh, and is led by Partner CA Harsh Jain (Membership No. 076736).
How quickly does Simplex Castings Limited plan to appoint a new statutory auditor to minimize disruption to its financial reporting cycle?
Could the departure of Harsh Jain & Associates signal underlying governance issues, despite the firm's statement of no material concerns?
What impact might this mid-term auditor change have on the company's credit ratings or investor confidence in the short term?
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