MSCTC has announced the appointment of a new statutory auditor following the resignation of its previous auditor. This change comes as part of the company's ongoing compliance with regulatory requirements and corporate governance practices.

Key Developments

New Auditor Appointment

• The company has appointed M/S. SK Bhavsar & Co. Chartered Accountants (Firm's Registration No. 0145880W) as its new statutory auditor.
• The appointment was approved by the board of directors based on the audit committee's recommendation.
• M/S. SK Bhavsar & Co. will serve until the conclusion of the ensuing general meeting.

Previous Auditor Resignation

• M/s Agrawal & Agrawal Associates (FRN: 116653W) resigned as the statutory auditor effective November 3, 2025.
• The resignation was attributed to pre-occupation with other professional work.

Correction of Clerical Error

• The company issued a revised board meeting outcome on November 5, 2025, to correct a clerical error regarding the auditor's tenure from the original outcome dated November 3, 2025.

About the New Auditor

M/S. SK Bhavsar & Co. is described as a team of young, passionate, and energetic professionals offering cost-effective and high-technology services to their clients. Their expertise includes:

• Tax Consultancy
• Auditing & Assurance
• Accounts
• Corporate Laws
• Project Finance & Investment Consultancy

The firm provides these services across India, positioning them well to handle the auditing needs of MSCTC.

Implications for Shareholders

This change in statutory auditors is a routine corporate action that ensures continued compliance with regulatory requirements. Shareholders can take assurance from the fact that the new appointment was made following due process, with approval from both the audit committee and the board of directors.

The company's prompt correction of the clerical error in the board meeting outcome demonstrates its commitment to accurate and transparent communication with stakeholders.

As MSCTC moves forward with its new auditors, investors and stakeholders will likely be keen to see how this change might impact the company's financial reporting and compliance processes in the coming periods.

MSCTC has announced significant changes in its statutory auditor position. The company, listed on the BSE with the scrip code 513544, has disclosed these developments in compliance with SEBI regulations.

Auditor Resignation

M/s Agrawal & Agrawal Associates (FRN: 116653W), the company's statutory auditor, has resigned effective from the end of business hours on November 3, 2025. The auditing firm cited preoccupation as the reason for their resignation. The Board of Directors has acknowledged the resignation and expressed appreciation for the auditor's guidance and contribution during their tenure.

New Auditor Appointment

In response to this change, the company's Board of Directors, based on the recommendation and approval of the audit committee, has appointed M/s. S K Bhavsar & Co., Chartered Accountants (Firm's Registration No. 0145880W), as the new Statutory Auditors. This appointment is effective immediately and will hold until the conclusion of the ensuing Annual General Meeting (AGM) of the company.

About the New Auditor

M/s. S K Bhavsar & Co. is described as a team of young, passionate, and energetic professionals offering cost-effective and high-technology services to their clients. Their service portfolio includes:

• Tax Consultancy
• Auditing & Assurance
• Accounts
• Corporate Laws
• Project Finance & Investment Consultancy

The firm provides these services across India.

Corporate Governance Implications

This change in auditors is a significant corporate governance event for MSCTC. The appointment of a new auditor demonstrates the company's commitment to maintaining transparent and compliant financial practices.

Key Details of the Change

The company has assured stakeholders that this transition will be smooth and that all necessary disclosures have been made in compliance with SEBI regulations.