Corporate Merchant Bankers Limited Reports No Deviation in Preferential Issue Fund Utilization

1 min read Updated on 14 Feb 2026, 08:10 PM

Reviewed by

Riya DScanX News Team

Overview

Corporate Merchant Bankers Limited filed its quarterly statement for the period ended December 31, 2025, reporting no deviation in the utilization of Rs. 15,00,00,000 raised through preferential issue on November 27, 2025. The funds were allocated for developing sustainable business solutions, with complete utilization of Rs. 1500.00 lakh as per the original object. The company demonstrated full regulatory compliance with no deviations reported.

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Corporate Merchant Bankers Limited has submitted its quarterly statement on deviation or variation for proceeds of preferential issue for the quarter ended December 31, 2025. The filing demonstrates the company's compliance with regulatory requirements for fund utilization disclosure.

Fund Raising Details

The company successfully raised funds through a preferential issue with specific parameters outlined in the regulatory filing.

Parameter:	Details
Mode of Fund Raising:	Preferential Issue
Date of Raising Funds:	November 27, 2025
Amount Raised:	Rs. 15,00,00,000
Report Filed for Quarter Ended:	December 31, 2025
Monitoring Agency:	Not Applicable

Fund Utilization Status

The company reported no deviation or variation in the use of funds raised through the preferential issue. All regulatory compliance questions were addressed with appropriate responses indicating proper fund utilization.

Compliance Parameter:	Status
Deviation/Variation in Use of Funds:	No
Change Pursuant to Contract Terms:	Not Applicable
Unitholders Approval Required:	Not Applicable
Explanation for Deviation:	Not Applicable
Audit Committee Comments:	None
Auditors Comments:	None

Object-wise Fund Allocation

The funds were allocated for a specific business objective with complete utilization as per the original plan.

Original Object:	Original Allocation (Amount in Lakh)	Funds Utilised (Amount in Lakh)	Amount of Deviation
To develop sustainable and scalable business solutions for long-term value	1500.00	1500.00	Nil

Regulatory Compliance

The statement clarifies that deviation or variation could encompass three scenarios: deviation in objects or purposes for which funds were raised, deviation in the amount of funds actually utilized versus originally disclosed, or changes in terms of contracts referenced in fund-raising documents. Corporate Merchant Bankers Limited reported no such deviations for the quarter under review.

Independent Review

DDS & Associates, Chartered Accountants, conducted a limited review of the company's unaudited quarterly standalone financial results. The review was performed in accordance with Standard on Review Engagements (SRE) 2410, and the auditors found no material misstatements in the financial results prepared under applicable accounting standards and SEBI regulations.

Historical Stock Returns for Corporate Merchant Bankers

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.91%	-17.21%	-46.45%	-0.79%	+481.33%	+568.64%

Corporate Merchant Bankers

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Corporate Merchant Bankers Supersedes Auditor Recommendation, Appoints D D S & Associates

2 min read Updated on 06 Feb 2026, 07:50 PM

Reviewed by

Suketu GScanX News Team

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Overview

Corporate Merchant Bankers Limited's board withdrew its February 6, 2026 recommendation of M/s. Shweta Jain & Co LLP and appointed M/s. D D S & Associates as statutory auditor for FY2025-26. The Ahmedabad-based firm, established in 1999 under CA Dinesh D. Shah, brings extensive experience and is empanelled with various regulatory bodies including CAG and RBI.

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Corporate Merchant Bankers Limited has announced a significant change in its statutory auditor recommendation following a board meeting held on February 11, 2026. The board has superseded its earlier recommendation and appointed M/s. D D S & Associates as the new statutory auditor for FY2025-26, replacing the previously recommended firm due to unavoidable circumstances.

Board Meeting Outcomes

The board of directors convened on February 11, 2026, at the company's corporate office located at 806 Ratnanjali Square, Prernatirth Derasar Road, S A C, Ahmedabad, Gujarat. The meeting commenced at 5:00 P.M. and concluded at 7:15 P.M., during which the directors made crucial decisions regarding the statutory auditor appointment.

Change in Auditor Recommendation

The board has withdrawn its earlier recommendation made on February 6, 2026, regarding the appointment of M/s. Shweta Jain & Co. LLP as statutory auditor. This decision was necessitated by unavoidable circumstances expressed by the previously recommended firm. The key details of the superseded and new recommendations are:

Parameter:	Previous Recommendation	New Recommendation
Firm Name:	M/s. Shweta Jain & Co. LLP	M/s. D D S & Associates
Registration Number:	127673W	120362W
Location:	Thane	Ahmedabad
Constitution:	Limited Liability Partnership	Proprietorship Firm
Peer Review Number:	015220	015851

New Auditor Profile

M/s. D D S & Associates is a peer-reviewed proprietorship chartered accountancy firm based in Ahmedabad, Gujarat, established under the leadership of CA Dinesh D. Shah. The firm has been in practice since April 29, 1999, and offers comprehensive services including audit & assurance, income tax, GST, corporate law, RERA consultancy, NCLT matters, debt restructuring, and estate planning.

Firm Credentials and Experience

The newly recommended firm brings substantial credentials to the appointment. D D S & Associates is empanelled with CAG since 2009-10, MEF-RBI since 2007-08, and Official Liquidator, Gujarat High Court since 2008-09. The firm serves a diverse client base including government bodies, listed companies, private limited companies, LLPs, partnership firms, proprietorships, NGOs, and banks.

Regulatory Compliance and Approval Process

The appointment recommendation has been made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The appointment is subject to approval by the company's members in a general meeting, which must be convened within three months from the date of the board's recommendation. The company has informed both BSE Limited and Metropolitan Stock Exchange of India Limited about this development as part of its disclosure obligations.

Historical Stock Returns for Corporate Merchant Bankers