Ace men engg works Limited has announced the resignation of its statutory auditor M/s. J Singh & Associates, Chartered Accountants, effective January 27, 2026. The company informed BSE Limited about this development in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Auditor Details and Tenure

J Singh & Associates (FRN:110266W) had been serving as the statutory auditor since January 03, 2022, with their appointment originally scheduled to continue until September 30, 2027. The auditing firm's last submission was a Limited Review Report for the quarter ended September 30, 2025, which was filed on November 14, 2025.

Reasons for Resignation

The auditing firm provided detailed explanations for their resignation in their formal letter to the company's Board of Directors. The primary factors cited include:

Partner Departure Impact: A key partner who was primarily responsible for overseeing audits of Ace Men Engg Works Limited recently resigned from the partnership, resulting in a significant reduction in the firm's overall audit leadership capacity.

Resource Constraints: The firm is experiencing acute staff constraints and resource limitations, making it unable to allocate the necessary team strength required for timely and quality completion of audit work.

The auditing firm emphasized that due to these circumstances, they would not be in a position to complete audits within the stipulated timelines prescribed under applicable laws and regulations. To avoid further delays or inconvenience to the company, they decided to resign and allow the appointment of another auditor with adequate resources.

Regulatory Compliance

The resignation was communicated through proper regulatory channels, with Managing Director Ruchir Patel (DIN: 09840600) signing the intimation letter on behalf of Ace Men Engg Works Limited. The company provided comprehensive details as required under SEBI regulations, including the complete resignation letter and Annexure A from the auditing firm.

Auditor's Confirmation

J Singh & Associates confirmed in their resignation letter that there are no other material reasons for their resignation beyond those stated. The firm also confirmed compliance with Section 140(2) of the Companies Act, 2013, and Rule 8 of the Companies (Audit and Auditors) Rules, 2014, regarding the provision of all required information and explanations.

The auditing firm expressed appreciation for the cooperation extended during their tenure and confirmed that no concerns were raised with the Audit Committee or Board of Directors prior to resignation. They also stated that there were no instances where requested information was not provided by the company management.

Ace Men Engg Works Limited has reported significant changes in its shareholding structure following a preferential allotment of shares. Two investors have acquired substantial stakes in the company through a share swap mechanism.

Key Acquisitions

1. Nishant Nayak: Acquired 6,92,880 equity shares, representing a 5.37% stake in the company.
2. Rupala Tushar Pravinbhai: Acquired 6,57,000 equity shares, equivalent to a 5.09% stake.

These acquisitions took place through a preferential allotment via share swap.

Impact on Company's Capital Structure

The preferential allotment has led to a significant increase in the company's paid-up capital and total number of shares:

This represents a substantial increase in the company's capital base, with the number of outstanding shares more than quadrupling.

Implications

The preferential allotment and subsequent acquisitions by these investors could have several implications:

1. Dilution of Existing Shareholding: The significant increase in the number of shares may lead to dilution for existing shareholders.
2. Change in Ownership Structure: With two new investors acquiring over 5% stake each, there could be potential changes in the company's ownership dynamics.
3. Capital Infusion: The increase in paid-up capital suggests a significant infusion of resources into the company, which could be used for various corporate purposes.

Investors and stakeholders should closely monitor any further disclosures from Ace Men Engg Works Limited regarding the utilization of these funds and any potential changes in the company's strategic direction following these acquisitions.

It's important to note that this information is based on the disclosures made to the stock exchange, and further details may be forthcoming from the company in due course.