Mehta Integrated Finance Limited has announced the resignation of its Internal Auditors, M/s. P. P. Patel & Brothers, Chartered Accountants, effective February 4, 2026. The company informed BSE Limited about this development in compliance with regulatory disclosure requirements under SEBI listing regulations.

Resignation Details

M/s. P. P. Patel & Brothers, Chartered Accountants (Firm Registration No. 107743W), who were appointed as Internal Auditors for Financial Year 2025-26, tendered their resignation through a letter dated February 4, 2026. The resignation became effective immediately from the close of business hours on the same date.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided detailed information in compliance with multiple SEBI circulars, including SEBI Circular No. SEBI/HO/CFD/CFD-POD-1/P/CIR/2023/123 dated July 13, 2023, and Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Impact on Operations

Following the resignation, M/s. P. P. Patel & Brothers will no longer be associated with Mehta Integrated Finance Limited in the capacity of Internal Auditors. The company has fulfilled its obligation to inform the stock exchange about this change in its internal audit arrangements.

Company Information

Mehta Integrated Finance Limited, incorporated in 1985, operates under CIN L65910GJ1985PLC007692 and is listed on BSE with scrip code 511377. The company's registered office is located at Law Garden Apt., Scheme-1, Opp. Law Garden, Ellisbridge, Ahmedabad. Company Secretary & Compliance Officer Kamleshbhai P. Patel signed the regulatory filing on behalf of the company.

Mehta Integrated Finance Limited has received board authorization to proceed with the withdrawal of funds from the Hon'ble City Civil Court, Ahmedabad, following an earlier favorable interim execution order that allows the company to withdraw a ₹1.00 crore security deposit.

Board Meeting Authorization

The company's board of directors convened on January 2, 2026, to formalize the withdrawal process. The meeting, which commenced at 5:45 PM and concluded at 6:10 PM, resulted in crucial authorization for fund withdrawal proceedings.

The board specifically authorized Mr. Vishwesh D. Mehta, Managing Director and CFO, to represent the company for withdrawal of money from the Hon'ble City Civil Court, Ahmedabad. This authorization follows the company's earlier disclosure under Regulation 30 of SEBI regulations regarding the favorable court order.

Court Order Background

The interim execution order from the Commercial Court at City Civil Court, Ahmedabad, permits Mehta Integrated Finance Limited to withdraw substantial funds held as security deposit. The order involves Radhe Estate Developers (Partnership firm) as the opposite party, with the total amount being ₹1.00 crore plus interest.

Financial and Legal Implications

The withdrawal is contingent upon submission of personal bonds by directors and other required documents. While the company can now proceed with the withdrawal process through its authorized representative, the final financial implications will only be reflected in accounts after the High Court delivers its verdict on the challenge filed by Radhe Estate Developers.

The company has maintained that it will benefit from enhanced cash liquidity of ₹1.00 crore along with applicable interest, pending the final resolution of the legal proceedings. The board authorization represents a significant step forward in the company's ability to access these funds while maintaining compliance with regulatory requirements.