Vivid Mercantile appoints P H Shah and Co as statutory auditor for five years
- Vivid Mercantile appointed M/s P H Shah and Co as statutory auditor for five years
- M/s Madhav Upadhyay and Associates named as secretarial auditor for same period
- Board noted resignations of previous statutory and secretarial auditors
- 32nd AGM scheduled for September 26, 2026, via video conferencing
*this image is generated using AI for illustrative purposes only.
Vivid Mercantile appointed M/s P H Shah and Co as its Statutory Auditor for a five-year term commencing FY27. The Board of Directors approved the appointment on September 2, 2026, subject to shareholder ratification at the upcoming Annual General Meeting.
The firm will serve from April 1, 2026, to March 31, 2031. The Audit Committee recommended the appointment in compliance with the Companies Act, 2013, and SEBI Listing Regulations.
Auditor Appointments
The Board also approved the appointment of M/s Madhav Upadhyay and Associates as Secretarial Auditor for a continuous period of five financial years (FY27 to FY31). Both appointments are subject to approval by members at the ensuing Annual General Meeting.
| Particulars | Statutory Auditor | Secretarial Auditor |
|---|---|---|
| Firm Name | M/s P H Shah and Co | M/s Madhav Upadhyay and Associates |
| Term Duration | Five consecutive financial years | Five consecutive financial years |
| Start Date | April 1, 2026 | April 1, 2026 |
| End Date | March 31, 2031 | March 31, 2031 |
| Approval Status | Board approved; AGM approval pending | Board approved; AGM approval pending |
Resignations Noted
The Board took note of the resignation of M/s Shah Karia & Associates as Statutory Auditor and M/s Neelam Somani & Associates as Secretarial Auditor. Both firms tendered their resignations on account of personal reasons. Separate intimations containing requisite details were submitted to BSE Limited as per SEBI Listing Regulations.
Madhav Upadhyay brings post-qualification experience in secretarial and legal matters. His expertise spans statutory compliances under SEBI regulations, FEMA, and Company Law. The appointment replaces no prior auditor, marking a new engagement rather than a change.
AGM and Other Approvals
The Board fixed Saturday, September 26, 2026, at 4:00 pm for the 32nd Annual General Meeting. The meeting will be conducted through Video Conferencing or Other Audio-Visual Means in accordance with Ministry of Corporate Affairs and SEBI circulars.
Additionally, the Board approved the Notice of AGM, Directors' Report, and Annual Report for FY26. M/s Madhav Upadhyay and Associates was also appointed as Scrutinizer for the upcoming AGM to oversee the remote e-voting process.
Historical Stock Returns for Vivid Mercantile
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.67% | -1.33% | +0.34% | -17.84% | -0.34% | 0.0% |
How might the appointment of P H Shah and Co influence Vivid Mercantile's financial reporting standards and investor confidence over the next five years?
What specific regulatory compliance challenges is Madhav Upadhyay and Associates expected to address for Vivid Mercantile during their term as Secretarial Auditor?
Could the resignations of the previous auditors due to 'personal reasons' signal any underlying governance issues or operational shifts within the company?
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