Radhe Developers (India) Limited has announced significant changes in its auditing structure and upcoming Annual General Meeting (AGM) proceedings. The company's Board of Directors has taken decisive steps to address the resignation of its previous statutory auditors and modify the notice for its 31st AGM.

New Statutory Auditors Recommended

In a board meeting held on August 11, Radhe Developers' directors accepted the resignation of M/s. Parin Patwari & Co., Chartered Accountants (FRN: 154571W), as the company's statutory auditors. This resignation had been previously communicated to the stock exchange on August 8.

To fill the resulting casual vacancy, the Board, on the recommendation of the Audit Committee, has proposed M/s. S Parth & Co., Chartered Accountants (FRN: 154436W) as the new statutory auditors. This appointment is subject to shareholder approval at the upcoming AGM.

Profile of New Auditors

M/s. S Parth & Co., established in 2020, is a peer-reviewed chartered accountancy firm based in Ahmedabad, India. The firm offers a comprehensive suite of professional services, including:

• Audit & Assurance
• Company Formation & ROC compliances
• Due Diligence
• Taxation
• Finance
• Startup Advisory

The firm serves clients across diverse industries and is known for building lasting client relationships by providing tailored solutions that address unique business challenges.

Terms of Appointment

If approved by the shareholders, M/s. S Parth & Co. will hold office until the conclusion of the upcoming Annual General Meeting. This appointment aims to fill the casual vacancy created by the resignation of the previous auditors.

Modification of AGM Notice

In addition to the auditor change, the Board has decided to modify the notice of the 31st Annual General Meeting. Specific details of the modifications were not disclosed.

Board Meeting Details

The board meeting where these decisions were made commenced at 04:15 p.m. and concluded at 05:05 p.m. on August 11. The company has duly informed the BSE Limited of these developments, in compliance with Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulation 2015.

Radhe Developers (India) Limited trades on the BSE under the scrip code 531273.

Radhe Developers (India) Limited, a company listed on the Bombay Stock Exchange (BSE: 531273), announced the resignation of its statutory auditor, Parin Patwari & Co., Chartered Accountants, effective August 8, 2025. The resignation comes less than a year into the auditor's term, which began on October 1, 2024.

Reasons for Resignation

According to the company's filing with the BSE, the primary reason for the auditor's resignation is the discontinuation of their proprietorship firm. CA Parin Patwari, in his resignation letter, stated, "I no longer intend to continue operating my proprietorship firm, and therefore, I am stepping down from the role of Statutory Auditor for my organization."

Auditor's Term and Latest Submission

Parin Patwari & Co. was appointed as the statutory auditor on October 1, 2024, with their term originally scheduled to conclude at the 31st Annual General Meeting of the company in 2025-2026. Prior to their resignation, the auditor's most recent submission was a limited review report dated July 28, 2025.

Company's Statement

Radhe Developers (India) Limited has confirmed that there were no concerns raised by the resigning auditor regarding the company's management. The company also stated that there were no material reasons for the resignation beyond the closure of the auditor's firm.

Next Steps

The Audit Committee and Board of Directors of Radhe Developers will consider the appointment of new statutory auditors in due course. The company has assured stakeholders that they will communicate any updates regarding the new appointment as they occur.

Regulatory Compliance

In compliance with SEBI regulations, specifically the SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, Radhe Developers has provided detailed information about the auditor's resignation to the stock exchange. This includes the format of information obtained from the statutory auditor upon resignation, as required by SEBI Circular No. CIR/CFD/CMD1/114/2019 dated October 18, 2019.

The company's management has expressed their appreciation for the cooperation and support provided by Parin Patwari & Co. during their tenure as statutory auditors.