Konndor Industries Seeks AGM Extension, Appoints New Statutory Auditor
Konndor Industries Limited announced two key decisions following a board meeting on September 16, 2025. The company will apply for an extension to hold its Annual General Meeting (AGM) for the financial year ended March 31, 2025. Additionally, the board has proposed appointing M/s. Chandabhoy & Jassoobhoy (FRN: 101648W) as the new statutory auditor for a 5-year term, replacing M/s. Vijay Moondra & Co. The appointment is subject to shareholder approval at the upcoming AGM. The new auditing firm has expertise in statutory audits, internal audits, taxation, and advisory services, with no relationships to the company's key personnel, ensuring independence.
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Konndor Industries Limited announced two significant corporate decisions following a board meeting held on September 16, 2025. The company is set to request an extension for its Annual General Meeting (AGM) and has proposed a change in its statutory auditor, subject to shareholder approval.
AGM Extension Application
The Board of Directors has approved the submission of an application to the Registrar of Companies, Gujarat, seeking an extension for holding the company's Annual General Meeting for the financial year ended March 31, 2025. This decision was made under Section 96(1) of the Companies Act, 2013, which allows companies to apply for such extensions when necessary.
New Statutory Auditor Appointment
In a move to refresh its financial oversight, Konndor Industries has decided to appoint a new statutory auditor. The Board has approved the appointment of M/s. Chandabhoy & Jassoobhoy (FRN: 101648W) to replace the outgoing auditors, M/s. Vijay Moondra & Co. This appointment is subject to shareholder approval at the upcoming AGM.
Key details of the proposed auditor appointment include:
| Detail | Information |
|---|---|
| Firm Name | M/s. Chandabhoy & Jassoobhoy |
| Registration Number | FRN: 101648W |
| Proposed Term | 5 years, from FY 2025-26 to FY 2029-30 |
| Appointment Date | Board approval on September 16, 2025; subject to shareholder ratification |
About the New Auditor
M/s. Chandabhoy & Jassoobhoy is described as a reputable Chartered Accountants firm with extensive experience in various financial services. Their expertise spans:
- Statutory audits
- Internal audits
- Taxation
- Advisory services
The firm has a track record of serving clients across multiple sectors, including both listed and unlisted companies.
Independence Assurance
Konndor Industries has confirmed that neither the firm M/s. Chandabhoy & Jassoobhoy nor its partners have any relationships with the company's Directors, Key Managerial Personnel, or Promoters. This declaration ensures compliance with regulatory requirements and maintains the independence of the audit function.
The company's decision to change auditors and seek an AGM extension reflects its commitment to maintaining robust financial governance and ensuring compliance with regulatory requirements. Shareholders will have the opportunity to vote on the new auditor appointment at the forthcoming AGM, the date of which is pending confirmation following the extension request.
Historical Stock Returns for Konndor Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.08% | +4.31% | +13.87% | +89.17% | +18.22% | +1,347.37% |
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