S. V. J. Enterprises Limited Announces Statutory Auditor Resignation

SVJ Enterprises Limited, a company listed on the Bombay Stock Exchange (BSE: 543799), has announced the resignation of their statutory auditors, P S V Jain & Associates, effective May 29, 2025. The resignation comes due to the auditors' pre-occupation with other assignments, limiting their ability to devote time to the company's affairs.

Auditor Resignation Details

P S V Jain & Associates were appointed on March 21, 2022, with their term originally scheduled to expire on March 31, 2027. However, their tenure will now conclude earlier than expected. The outgoing auditors have confirmed that there are no concerns or issues beyond time constraints that led to their resignation.

In their resignation letter, Mr. Dularesh Kumar Jain, representing P S V Jain & Associates, stated, "Due to our pre-occupation in other assignments, we are not in a position to devote our time to the affairs of the Company." The firm has provided a No Objection Certificate (NOC) for the appointment of a new auditor.

Last Audit Report

The last report submitted by P S V Jain & Associates was a limited review report on the unaudited half-yearly standalone financial results of SVJ Enterprises Limited for the period ended September 30, 2024.

Conclusion

This change in statutory auditors marks a significant event for SVJ Enterprises Limited. The company has assured stakeholders that there were no underlying issues or concerns that led to the auditor's resignation beyond the cited time constraints. As the company transitions to new auditors, stakeholders will be keen to observe any potential impacts on financial reporting and corporate governance practices.