Ventura Guaranty disclosed on August 7, 2026, that M S K A & Associates LLP has resigned as the statutory auditor of its material subsidiary, Ventura Securities Limited. The resignation, effective August 6, 2026, stems from a disagreement over audit fees for the financial year 2026-27 (FY27). The firm stated it could not continue the engagement because management requested reduced professional fees, which they deemed financially unviable given the time and effort required, despite a significant reduction in the subsidiary’s level of operations.

The disclosure was made 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-CFD-POD2/I/3762/2026 dated January 30, 2026. Ventura Securities Limited’s Board of Directors is required to appoint a new statutory auditor to fill the casual vacancy in accordance with the Companies Act, 2013. The appointment will be intimated to stock exchanges in due course.

Auditor Resignation Details

M S K A & Associates LLP (formerly known as M S K A & Associates), Chartered Accountants, holds ICAI Firm Registration Number 105047W/W101187. They were originally appointed as statutory auditors for the period from financial year 2024-25 to 2028-29 at the Annual General Meeting held on September 28, 2024.

The firm confirmed it has completed the audit of financial statements for the financial year 2025-26, issuing its report on May 21, 2026. It also completed the limited review for the quarter ended June 30, 2026, with the report dated August 6, 2026. Partner Prateek Khandelwal signed the resignation letter, stating that the request for reduced fees was made via a letter dated March 19, 2026.

What the Numbers Show

The resignation highlights a divergence between the subsidiary’s operational scale and its compliance costs. While Ventura Securities Limited experienced a significant reduction in operations, leading management to seek lower audit fees, the auditor determined that the fixed time and effort required for statutory compliance remained high. This suggests that the subsidiary’s cost structure may not have scaled down proportionally with its revenue or transaction volume, creating a viability gap for external audit services. The absence of any noted concerns regarding audit evidence limitations or management-imposed restrictions indicates the departure is purely commercial rather than indicative of accounting irregularities.

Sajid Siraj Malik, a promoter of ventura guaranty , has acquired 5,20,000 equity shares of ₹10 each, constituting 13.49% of the company’s paid-up equity share capital, through off-market transmission. The acquisition was made from his late mother, Late Mrs. Saroja Malik, who was also a promoter of the company. This transaction results in a significant increase in Malik’s individual holding but leaves the aggregate stake of the promoter and promoter group unchanged, as the transfer occurred within the group.

The disclosure was filed with BSE Limited on July 28, 2026, pursuant to Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing confirms that the transaction is exempt from making an open offer under Regulation 10(1)(g) of the SEBI SAST Regulations, which covers transfers among promoters or the promoter group. Consequently, no prior disclosure under Regulation 10(5) was required for this specific transaction. The date of acquisition is recorded as July 27, 2026.

Prior to this acquisition, Sajid Siraj Malik held 6,67,500 shares, representing 17.32% of the total share capital. Late Mrs. Saroja Malik held 5,20,000 shares, accounting for 13.49% of the total share capital. Following the transmission, Malik’s holding stands at 11,87,500 shares, or 30.81% of the total share capital. Mrs. Malik’s holding is now zero as the shares have been fully transmitted.

Shareholding Changes

The regulatory filing underscores that while individual holdings within the promoter group have shifted, the consolidated control structure of Ventura Guaranty Limited remains stable. The exemption under Regulation 10(1)(g) ensures that such internal transmissions do not trigger open offer obligations, provided the aggregate holding of the promoter group does not increase beyond its existing level. This procedural compliance maintains transparency with stock exchange regulators while facilitating smooth succession planning within the promoter family.