Viji Finance has recommended the appointment of DDS & Associates as its statutory auditor to fill a casual vacancy on the board. The recommendation was made by the Board of Directors on September 2, 2026, following the resignation of the previous auditors, Dharmendra K Agarwal & Co.

The appointment is subject to approval by the company's members in a general meeting convened within the period prescribed under Section 139(8) of the Companies Act, 2013. If approved, DDS & Associates will hold office until the conclusion of the next Annual General Meeting.

Auditor Details

The new statutory auditor, DDS & Associates, is a proprietorship firm based in Ahmedabad, Gujarat. It holds Firm Registration No. 120362W with the Institute of Chartered Accountants of India (ICAI).

The firm is peer-reviewed and empanelled with the Comptroller and Auditor General (CAG) under Empanelment No. WR3752 since the 2009-10 fiscal year. It has also been empanelled with the RBI’s Master Empanelment Framework (MEF) under Empanelment No. 81367 since 2007-08.

Scope of Practice

DDS & Associates offers audit and assurance services, income tax consultancy, GST compliance, and corporate advisory. The firm has experience serving listed companies, NBFCs, and government entities. It previously served as a Banking Statutory Branch Auditor from 2019-20 to 2023-24.

The disclosure confirmed that DDS & Associates has no relationship with any of the directors of Viji Finance Ltd.

Viji Finance disclosed a substantial increase in the shareholding of Nimit Manoj Kumar Rathod and his Person Acting in Concert (PAC), Manoj Chhaganlal Rathod. The group’s aggregate holding rose to 6.06% of the post-allotment paid-up equity capital following the acquisition of 1,00,00,000 equity shares.

The acquisition was executed through the preferential allotment of equity shares upon the conversion of warrants previously allotted to the PAC. Viji Finance allotted these shares on August 26, 2026. Prior to this transaction, the acquirer and PAC collectively held 40,00,000 equity shares, representing 1.81% of the total paid-up equity share capital.

What the Numbers Show

The transaction significantly alters the ownership structure for the Rathod group. By converting warrants into equity, the group tripled its absolute share count from 40,00,000 to 1,40,00,000 shares. This move increases their voting power from a marginal 1.81% to a more substantial 6.06% stake in the company. The post-allotment paid-up equity capital of Viji Finance stands at ₹23,10,00,000, divided into 23,10,00,000 equity shares of Re. 1/- each.

Regulatory Disclosure Details

The disclosure was filed pursuant to Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Nimit Manoj Kumar Rathod submitted the requisite details to the BSE, NSE, and CSE on August 31, 2026. The shares are currently pending receipt of listing and trading approvals from the stock exchanges and credit to the respective demat accounts.

The acquirer is not part of the promoter or promoter group of Viji Finance. The target company’s equity share capital before the acquisition was ₹22,10,00,000, divided into 22,10,00,000 equity shares.