Ventura Guaranty Limited disclosed that its material subsidiary, Ventura Securities Limited, has appointed M/s. G. K. Choksi & Co., Chartered Accountants, as its statutory auditor. The Board of Directors of Ventura Securities approved the appointment during a meeting held on August 18, 2026, acting on the recommendation of the Audit Committee.

The new appointment fills a casual vacancy arising from the resignation of the previous auditors, M/s. M S K A & Associates LLP, Chartered Accountants. The engagement is subject to ratification by the members at the ensuing Annual General Meeting (AGM) of Ventura Securities.

Appointment Details

The firm will serve for a term of five consecutive years. This period commences from the conclusion of the AGM to be held in 2026 and continues until the conclusion of the AGM in 2031.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It also complies with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

M/s. G. K. Choksi & Co., established in 2004, provides audit, assurance, taxation, business advisory, and litigation support services. The firm has four partners with expertise in international taxation, mergers and acquisitions, and corporate restructuring.

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.