Lords Mark , formerly known as Kratos Energy & Infrastructure Limited, has announced a change in its statutory auditors. The company's current auditors, M/s H. G. Sarvaiya & Co., Chartered Accountants, have resigned after completing their audit term and decided not to seek reappointment.

Reasons for Auditor Resignation

The outgoing auditors, M/s H. G. Sarvaiya & Co., cited two primary reasons for their decision:

1. Completion of their audit term
2. Decision not to seek reappointment for subsequent financial years

Lords Mark India Limited has confirmed that no material concerns were raised by the auditors during their tenure.

New Auditor Appointment

To fill the casual vacancy created by this resignation, the Board of Directors of Lords Mark India Limited has taken prompt action:

The Board of Directors appointed M/s Sanjeev S. Gupta & Associates, Chartered Accountants, based on the Audit Committee's recommendation. The new auditors, established in 1998, have extensive experience in statutory, internal and special audits for listed companies, PSUs and large corporates. They are also empaneled with C&AG and RBI.

Appointment Details

The appointment of M/s Sanjeev S. Gupta & Associates is subject to shareholder approval at the next General Meeting. Their term will remain valid until the conclusion of the next Annual General Meeting.

Additional Information

The company has assured that the firm's partners have no relationship with the company's directors, key management personnel or promoters.

This change in statutory auditors marks a significant corporate action for Lords Mark India Limited.

Lords Mark India Limited , formerly known as Kratos Energy & Infrastructure Limited, has announced a significant change in its promoter shareholding. This development marks a pivotal moment in the company's ownership structure.

Key Details of the Transaction

Implications of the Change

The transfer of the entire promoter stake from El Dorado Guarantee Limited to Mr. Sachidanand Hariram Upadhyay represents a complete shift in the controlling interest of Lords Mark India Limited. This change may lead to new strategic directions or operational changes within the company, although specific plans have not been disclosed at this time.

Regulatory Compliance

In line with regulatory requirements, the company has adhered to the following procedures:

1. Execution of a Share Purchase Agreement between El Dorado Guarantee Limited and Mr. Sachidanand Hariram Upadhyay.
2. Initiation of an Open Offer to the public shareholders, as mandated by SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
3. Compliance with SEBI regulations and obtaining the necessary SEBI Observation Letter.

Company Information

Lords Mark India Limited operates from its registered office at 317, Maker Chamber V, 221, Nariman Point, Mumbai. The company's management has duly informed the BSE about this change in promoter shareholding, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Stakeholders and market observers will be keenly watching for any potential shifts in the company's strategy or operations under the new promotership of Mr. Sachidanand Hariram Upadhyay.