KJMC Financial Services Limited has reported a significant change in its shareholding structure, with Mrs. Chanddevi Jain, a member of the promoter group, increasing her stake in the company through a share transmission.

Key Details of the Transaction

• Shares Acquired: Mrs. Chanddevi Jain received 2,13,000 equity shares through transmission
• Date of Acquisition: September 15, 2025
• Transaction Type: Inter-se transfer
• Shareholding Change:
  • Before: 18,70,076 shares (39.08% of total share capital)
  • After: 20,83,076 shares (43.53% of total share capital)
• Increase in Shareholding: 4.45 percentage points

Regulatory Compliance

The company has made the necessary disclosures under Regulation 29(2) and Regulation 10(6) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The acquisition falls under the exemption provided in Regulation 10(1)(g) of the SEBI (SAST) Regulations, 2011, which covers acquisitions by way of transmission, succession, or inheritance.

Impact on Company Structure

Despite the significant increase in Mrs. Jain's shareholding, the total equity share capital of KJMC Financial Services Limited remains unchanged at Rs. 4,78,57,400. This transmission of shares has not altered the company's overall capital structure but has consolidated the promoter group's control.

Market Implications

As a result of this transaction, Mrs. Chanddevi Jain now holds a substantial 43.53% stake in KJMC Financial Services Limited. This increased promoter holding could potentially impact the stock's liquidity and may be of interest to market participants and investors monitoring ownership patterns in the company.

The company has duly informed the BSE Limited about this change in shareholding, ensuring transparency and compliance with regulatory requirements.

KJMC Financial Services Ltd. , a Non-Banking Financial Company (NBFC), has announced a significant change in its auditing arrangements. V.P. Thacker & Co., Chartered Accountants, the company's statutory auditor, has stepped down from their position effective November 13, 2020.

Auditor Resignation Details

The auditing firm, which was appointed on September 30, 2019, was originally slated to serve until September 30, 2022. However, their tenure has been cut short due to challenges arising from the COVID-19 pandemic.

Reason for Resignation

In their resignation, V.P. Thacker & Co. cited the impact of the COVID-19 pandemic as the primary reason for their departure. The firm stated that the time required for conducting audits and reviews was not commensurate with the fees they were able to charge under the current circumstances.

Communication with Management

The auditor confirmed that they had discussed the reasons for their resignation with KJMC Financial Services' management. Importantly, they stated that there were no other material reasons for their departure beyond the cited pandemic-related challenges.

Impact on KJMC Financial Services

This unexpected change in auditors may require KJMC Financial Services to swiftly find a replacement to ensure continuity in their financial reporting and compliance processes. As an NBFC, maintaining accurate and timely audited financial statements is crucial for regulatory compliance and investor confidence.

The resignation of V.P. Thacker & Co. highlights the far-reaching impacts of the COVID-19 pandemic on business operations, extending even to essential services like financial auditing. It also underscores the challenges faced by both auditing firms and their clients in adapting to the new economic realities brought about by the global health crisis.

KJMC Financial Services will likely need to appoint a new statutory auditor to fill the vacancy left by V.P. Thacker & Co.'s resignation. Stakeholders and investors will be keen to see how the company manages this transition and ensures uninterrupted financial oversight.