Gravity (India) Limited Appoints M/s. AVKAS & Co. as New Statutory Auditors
Gravity (India) Limited's board meeting on January 08, 2026, resulted in the appointment of M/s. AVKAS & Co., Chartered Accountants as statutory auditors for two distinct roles. The firm will fill the casual vacancy created by the previous auditors' resignation and serve a five-year term from the 39th to 44th Annual General Meeting, covering financial years 2025-26 to 2029-30, subject to shareholder approval.
*this image is generated using AI for illustrative purposes only.
Gravity (India) Limited announced significant changes to its statutory audit arrangements following a board meeting held on January 08, 2026. The company's board addressed the appointment of new auditors after the resignation of its previous statutory auditors created a casual vacancy.
Board Decisions on Auditor Appointments
The board meeting, which commenced at 5:30 PM and concluded at 6:15 PM, resulted in two key appointments for M/s. AVKAS & Co., Chartered Accountants (FRN: 155352W). The decisions were made based on recommendations from the company's Audit Committee.
| Appointment Type: | Details |
|---|---|
| Casual Vacancy Fill: | From January 08, 2026 until ensuing AGM |
| Long-term Appointment: | 5 years from 39th AGM to 44th AGM (2030) |
| Audit Coverage: | Financial years 2025-26 to 2029-30 |
| Approval Required: | Shareholder approval at upcoming AGM |
Background of Auditor Change
The appointment became necessary due to the resignation of M/s. DDM & Associates, Chartered Accountants (Firm Registration No. 133446W), which created a casual vacancy in the statutory auditor position. This resignation prompted the board to seek immediate replacement to ensure continuity of audit services.
Profile of New Auditors
M/s. AVKAS & Co., Chartered Accountants brings relevant expertise to the role. The firm is registered with the Institute of Chartered Accountants of India (ICAI) and provides comprehensive professional services including:
- Audit and assurance services
- Taxation advisory
- Other professional consulting services
The firm possesses the requisite professional competence, experience, and infrastructure necessary to undertake statutory audit assignments in accordance with the Companies Act, 2013 and standards issued by ICAI.
Regulatory Compliance
The appointments were made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III of the Listing Regulations. The company also adhered to SEBI master circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, ensuring all required disclosures were properly made to the Bombay Stock Exchange.
Next Steps
Both auditor appointments require shareholder approval at the company's upcoming Annual General Meeting. The remuneration for the five-year term will be mutually agreed between the Board of Directors and the auditors, based on the Audit Committee's recommendations. The company has informed the stock exchange of these developments as part of its regulatory obligations.
Historical Stock Returns for Gravita India
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.46% | -10.58% | -11.86% | -6.52% | -20.17% | +1,904.19% |
19
