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 The board has superseded its earlier recommendation and appointed M/s. D D S & Associates as the new statutory auditor for FY2025-26, replacing the previously recommended firm due to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The board has withdrawn its earlier recommendation made on February 6, 2026, regarding the appointment of M/s. Shweta Jain & Co. LLP as statutory auditor.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 The key details of the superseded and new recommendations are:

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.

Corporate Merchant Bankers Limited Secures BSE Approval

Corporate Merchant Bankers Limited has received an important regulatory green light. The company announced that it has obtained in-principle approval from the Bombay Stock Exchange (BSE) for the issuance of equity shares.

Key Points:

• The approval is for the issuance of equity shares
• The in-principle approval comes from the Bombay Stock Exchange (BSE)
• This development is a significant step in the company's capital raising process

Implications:

This approval from the BSE is a crucial step for Corporate Merchant Bankers Limited. It paves the way for the company to proceed with its equity issuance plans, which could have important implications for its capital structure and future growth strategies.

Next Steps:

While the in-principle approval is an important milestone, investors and market watchers will likely be keen to see:

1. The details of the equity issuance, including the number of shares and pricing
2. The intended use of the funds raised
3. Any potential impact on the company's ownership structure

Investors are advised to conduct their own research and consult with financial advisors before making investment decisions based on this news.