Euro Asia Exports Limited has announced a significant change in its capital structure through a preferential allotment of equity shares. The company has successfully completed the allotment of 50,00,000 equity shares to a non-promoter investor, marking a substantial increase in its paid-up equity share capital.

Key Highlights of the Allotment

• Allotment Details: 50,00,000 equity shares
• Issue Price: Rs 10.00 per share
• Allottee: Mr. Rajendra Kamalkant Chodankar (Non-Promoter)
• Capital Raised: Rs 5.00 crore

Impact on Share Capital and Shareholding Pattern

The preferential allotment has led to notable changes in the company's capital structure and shareholding pattern:

The allotment has resulted in a significant dilution of the promoter and promoter group's shareholding, while substantially increasing the public shareholding in the company.

Upcoming Extraordinary General Meeting

In addition to the share allotment, Euro Asia Exports Limited has announced plans for an Extraordinary General Meeting (EGM):

• Date: May 5, 2025
• Mode: Video Conferencing
• Scrutinizer: M/s Amit Saxena & Associates

The appointment of a scrutinizer suggests that important resolutions may be put to vote during the EGM, although specific details of the agenda have not been disclosed in the current announcement.

This preferential allotment and the resulting changes in shareholding structure could potentially impact the company's governance and strategic direction. Shareholders and potential investors may want to keep an eye on the upcoming EGM for further insights into the company's plans and any additional corporate actions.

RRP Defense Limited (formerly Euro Asia Exports Limited) has announced significant changes to its statutory auditor position, raising concerns about potential accounting irregularities. The company, which operates in the defense sector, made these announcements following a board meeting held on June 6, 2025.

Auditor Resignation and New Appointment

A Arora & Co., the company's previous statutory auditor, has resigned from their position. The resignation comes with a notable reason: the auditor cited a lack of response from the company regarding queries about inconsistencies in the books of accounts. This development may raise questions among investors about the company's financial transparency and accounting practices.

In response to this resignation, RRP Defense Limited has appointed M/s. TDK & Co. as its new statutory auditor. Both the resignation of A Arora & Co. and the appointment of TDK & Co. are effective from June 6, 2025.

New Auditor Profile

The company describes TDK & Co. as an experienced chartered accountancy firm. Their services reportedly include:

• Auditing
• Management consultancy
• Tax consultancy
• Accounting services

The selection of a firm with this range of expertise may be seen as an attempt by RRP Defense Limited to address the concerns raised by the previous auditor.

Board Meeting Rescheduled

In addition to the auditor changes, the company has announced that a previously planned board meeting, originally scheduled for June 5, 2025, has been postponed. The new date for this meeting is yet to be announced, which may leave shareholders waiting for further updates on the company's financial situation and response to the auditor's concerns.

Timeline of Events

The swift action taken by RRP Defense Limited in appointing a new auditor suggests that the company is attempting to address the situation promptly. However, the circumstances surrounding the previous auditor's resignation and the rescheduling of the board meeting may lead to increased scrutiny of the company's financial reporting in the coming months.

Shareholders and potential investors will likely be watching closely for any further developments or disclosures from RRP Defense Limited regarding the inconsistencies mentioned by the outgoing auditor and the company's plans to address these concerns.