Magnanimous Trade & Finance Ltd Announces Resignation of Statutory Auditors
Magnanimous Trade & Finance Ltd has disclosed the resignation of its statutory auditors, M/s. Gupta & Shah, Chartered Accountants, effective September 5, 2025. The company stated no concerns were raised by the auditors regarding management or material reasons for the resignation. The Audit Committee and Board will consider appointing new statutory auditors to fill the casual vacancy. This announcement was made in compliance with SEBI regulations.
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Magnanimous Trade & Finance Ltd has announced the resignation of its statutory auditors, M/s. Gupta & Shah, Chartered Accountants, effective September 5, 2025. The company, which specializes in trade and finance services, made this disclosure in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Points of the Announcement
Auditor Resignation: M/s. Gupta & Shah, Chartered Accountants (Registration No. 001416C), have expressed their inability to continue as statutory auditors of the company.
Effective Date: The resignation is effective from September 5, 2025.
No Concerns Raised: The company stated that there were no concerns raised by the resigning auditors regarding the management or any material reasons for the resignation.
Regulatory Compliance: The announcement was made in accordance with SEBI regulations, ensuring transparency in corporate governance.
Company's Response
Magnanimous Trade & Finance Ltd has assured stakeholders that the Audit Committee and the Board will consider the appointment of new statutory auditors to fill the casual vacancy caused by the resignation. The company plans to communicate this appointment in due course.
Additional Details
- The resignation letter from M/s. Gupta & Shah was received on September 5, 2025.
- As per the company's statement, no deliberation on the resignation is required by the Audit Committee, and consequently, no disclosure of the Audit Committee's view is applicable.
About Magnanimous Trade & Finance Ltd
Magnanimous Trade & Finance Ltd is a company registered in Rajasthan, India, with its corporate office in Kolkata. The company's shares are listed on the Bombay Stock Exchange (BSE).
The announcement was made by Mr. Kurjibhai Premjibhai Rupareliya, Additional Director of Magnanimous Trade & Finance Ltd, ensuring compliance with regulatory requirements and maintaining transparency with the company's shareholders and the market at large.
Historical Stock Returns for Magnanimous Trade & Finance
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -100.00% | 0.0% | 0.0% | 0.0% | 0.0% | -100.00% |
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