MSCTC announced a significant change in its statutory auditor position. The company's current auditor, M/s Agrawal & Agrawal Associates, has resigned, citing pre-occupation with other professional work. This development has prompted MSCTC to appoint a new auditor to fill the vacancy.

Key Details of the Auditor Transition

New Auditor Appointment

The Board of Directors, based on the Audit Committee's recommendation, has approved the appointment of M/S. S K BHAVSAR & CO., Chartered Accountants (Firm's Registration No. 0145880W), as the new Statutory Auditors. This appointment is effective from November 3, 2025, and will continue until the conclusion of the ensuing General Meeting 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. Their expertise spans various areas including:

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

The firm provides these services across India, bringing a fresh perspective to MSCTC's financial oversight.

Company's Response

The Board of Directors has acknowledged the resignation of M/s Agrawal & Agrawal Associates and expressed appreciation for their guidance and contributions during their tenure as Statutory Auditor. The company has assured stakeholders that this change in auditors is part of normal corporate proceedings and does not impact the company's financial reporting integrity.

This transition in statutory auditors marks a significant corporate action for MSCTC. Shareholders and investors will likely be keen to see how this change might influence the company's financial reporting and auditing processes going forward.

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.