Grand Foundry Limited has announced the resignation of both its statutory and internal auditors for the Financial Year 2025-26, effective immediately from January 6, 2026. The company informed BSE and NSE about these developments through a revised intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Auditor Resignations

Both auditing firms submitted their resignation letters on January 6, 2026, citing similar reasons for their departure. The resignations became effective immediately from the close of business hours on the same date.

Statutory Auditor Details

M/s Ashwani & Associates, led by partner Surender Kumar, had been serving as the company's statutory auditor since September 29, 2023. Their term was originally scheduled to expire on September 28, 2028. The firm's last audit report was submitted on November 13, 2025.

Internal Auditor Information

M/s Ajay Kanjhlia & Associates, represented by partner Kunal Gupta, had been serving as internal auditor since May 9, 2024. The firm's most recent internal audit report covered the period from October 1, 2025, to December 31, 2025, and was submitted on January 3, 2026.

Regulatory Compliance

Grand Foundry Limited has submitted comprehensive disclosures as required under SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, and Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. Both auditing firms confirmed in their declarations that there were no material concerns or issues that required reporting to the Board of Directors or members under the Companies Act, 2013.

The internal auditor noted that during their tenure, they did not observe any matters requiring disclosure to the Board of Directors or company members. Similarly, the statutory auditor confirmed no significant concerns prior to resignation. Both firms stated that their inability to continue was solely due to other professional commitments restricting their ability to devote sufficient time to Grand Foundry's audit functions.

Grand Foundry Limited has informed stock exchanges about the immediate resignation of its Company Secretary and Compliance Officer, marking a significant change in the company's key managerial personnel structure.

Leadership Change Details

Ms. Nalini Singh has tendered her resignation from the position of Company Secretary and Compliance Officer, effective from the close of business hours on January 8, 2026. The resignation was communicated to both BSE Limited and National Stock Exchange of India Limited in compliance with regulatory requirements.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Director Saurabh Goyal signed the official communication, which included all required details as specified under Schedule III of the SEBI Listing Regulations.

The resignation letter, dated January 8, 2026, specifically requested the Board of Directors to acknowledge receipt and arrange filing of necessary forms with the Registrar of Companies, Ministry of Corporate Affairs. Ms. Singh also emphasized the need for proper intimation to stock exchanges to formalize the resignation process.

Corporate Structure Impact

As a Key Managerial Personnel, the Company Secretary and Compliance Officer position plays a crucial role in ensuring regulatory compliance and corporate governance. The immediate nature of the resignation requires the company to address the vacancy promptly to maintain continuity in compliance functions and statutory obligations.

The company's communication to exchanges demonstrates adherence to transparency requirements, providing stakeholders with timely information about changes in key management positions.