News Stocks Quasar India Limited Appoints M/s. M A A K & Associates as Statutory Auditor for FY 2025-26Quasar India Limited Appoints M/s. M A A K & Associates as Statutory Auditor for FY 2025-26
Quasar India Limited's Board of Directors has superseded its earlier auditor recommendation and appointed M/s. M A A K & Associates, Chartered Accountants (Registration No. 135024W) as statutory auditor for FY 2025-26. The decision was made on 12th February, 2026, after the previously recommended firm M/s. Shweta Jain & Co. LLP expressed unavoidable circumstances. The appointment requires shareholder approval at a General Meeting within three months and fills a casual vacancy in the auditor position.
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Quasar India Limited has announced a change in its statutory auditor appointment following a board meeting held on 12th February, 2026. The company's Board of Directors superseded its earlier recommendation made on 6th February, 2026, regarding the appointment of M/s. Shweta Jain & Co. LLP due to unavoidable circumstances expressed by the firm.
New Auditor Appointment Details
Based on the Audit Committee's recommendation, the board has now recommended M/s. M A A K & Associates, Chartered Accountants for the statutory auditor position. The appointment covers Financial Year 2025-26 and requires shareholder approval at a General Meeting to be convened within three months.
| Parameter: | Details |
|---|---|
| Firm Name: | M/s. M A A K & Associates |
| Registration Number: | 135024W |
| Location: | Ahmedabad |
| Appointment Date: | 12th February, 2026 |
| Term: | Financial Year 2025-26 |
| Peer Review Number: | 017841 |
Auditor Profile and Expertise
The newly appointed firm brings extensive experience in enterprise risk management, statutory audits, and regulatory compliance. The lead professional has previously served as a Manager in the Enterprise Risk Services division at Deloitte Haskins & Sells and currently leads Kenan Satyawadi & Co. as Proprietor.
Key areas of expertise include:
- Statutory and limited review audits of listed companies
- Concurrent, revenue, stock, and statutory audits of nationalised and co-operative banks
- ISA (System) audits and management consultancy
- Specialised assignments including bank guarantee audits, inspection audits, and forensic audits
Regulatory Compliance
The appointment follows proper regulatory procedures under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided all required disclosures as per SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.
The board meeting was conducted at the company's corporate office in Ahmedabad from 5:00 P.M. to 6:45 P.M., with Director Vijayrao More signing the official communication to BSE Limited. The appointment is classified as filling a casual vacancy due to the resignation of the earlier auditor, ensuring continuity in the company's audit processes for the upcoming financial year.
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