Decorous Investment & Trading Co Ltd. (CIN: L67120DL1982PLC289090) has announced plans to appoint new statutory auditors following the withdrawal of G.K. Kedia & Co. Chartered Accountants. This development comes in light of the auditing firm's ineligibility for reappointment under Section 139(2) of the Companies Act, 2013.

Background

G.K. Kedia & Co. had served as the company's statutory auditors for ten years and was initially reappointed at the Annual General Meeting held on September 29. However, the firm later determined that Decorous Investment & Trading Co. Ltd. falls within the class of companies subject to mandatory auditor rotation provisions.

Key Developments

1. Withdrawal of Consent: G.K. Kedia & Co. has withdrawn their consent dated September 1, declaring it null and void.
2. Immediate Cessation: The auditing firm confirmed they will cease acting as statutory auditors with immediate effect.
3. No Objection: G.K. Kedia & Co. expressed no objection to the appointment of new auditors.

Company's Response

Decorous Investment & Trading Co. Ltd. has initiated the process to appoint new statutory auditors. The company has scheduled the following meetings on October 18:

Agenda for the Meetings

The meetings will address several key points:

1. Rectification of the resolution passed at the previous AGM regarding the re-appointment of G.K. Kedia & Co.
2. Consideration and approval of new statutory auditors
3. Approval for convening an Extraordinary General Meeting (EGM)
4. Authorization for necessary intimations to the Bombay Stock Exchange (BSE)

Trading Window Closure

The company has announced that the trading window for equity shares will remain closed from October 1 to October 21 for all insiders.

This situation underscores the importance of compliance with regulatory requirements and the need for companies to stay vigilant about auditor rotation rules. Shareholders and investors of Decorous Investment & Trading Co. Ltd. should keep an eye out for further announcements regarding the appointment of new statutory auditors and the upcoming Extraordinary General Meeting.

Decorous Investment & Trading Co has announced its 42nd Annual General Meeting (AGM) and approved its unaudited financial results for the quarter ended June 30. The company reported a significant increase in profit and made several key decisions regarding its operations and compliance with regulatory requirements.

Financial Performance

Decorous Investment and Trading Company Ltd reported a profit of Rs. 436,060.00 for the quarter ended June 30, representing a 120.00% increase from Rs. 198,130.00 in the same quarter last year. Total revenue grew to Rs. 749,880.00 from Rs. 549,880.00 in the year-ago period, marking a 36.37% increase.

Key financial highlights include:

AGM Details and Key Agenda Items

The 42nd AGM is scheduled for September 22, at 11:00 AM and will be conducted through video conferencing. The meeting's agenda includes:

• Adoption of audited annual accounts
• Reappointment of director Amit Gupta
• Reappointment of statutory auditors G.K. Kedia & Co.
• Special resolution for loans, guarantees, or investments exceeding prescribed limits

Other Important Announcements

• No dividend has been declared for the period
• The trading window for insiders will remain closed from July 1 to August 5
• Book closure dates are set from September 13-28
• E-voting will be available from September 19-21
• The board has approved the delisting of equity shares from the Calcutta Stock Exchange Ltd

Compliance and Shareholder Information

• The company will not dispatch printed annual reports, in line with SEBI circular dated January 15, 2021
• Annual reports will be available on the company's website, BSE Ltd., RTA, and NSDL platforms
• Shareholders can request a free copy of the annual report if desired

The company has a paid-up capital of Rs. 3.45 crore comprising 34.5 lakh equity shares of Rs. 10 each, and its shares are listed on BSE and CSE.

Decorous Investment & Trading Co continues to maintain transparency in its operations and encourages shareholder participation through electronic means for the upcoming AGM.