Radhe Developers' Statutory Auditor Resigns Due to Firm Closure

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.