Thinkink Picturez Postpones Board Meeting, Appoints New Statutory Auditor
By ScanX News Team
Thinkink Picturez Limited has postponed its board meeting from August 1 to August 12 due to the Audit Committee's failure to approve Q2 financial results. The company's statutory auditor, M/s Parin Patwari & Co., has resigned, citing discontinuation of their proprietorship firm. M/s Chandabhoy & Jassoobhoy has been appointed as the interim Statutory Auditor, subject to shareholder approval. The new auditors, based in Ahmedabad, are set for a five-year term pending approval at the upcoming AGM.
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Thinkink Picturez Limited, a Mumbai-based company listed on the Bombay Stock Exchange, has announced significant changes in its corporate governance structure and financial reporting timeline.
Board Meeting Postponement
The company's Board of Directors, originally scheduled to meet on August 1, has adjourned their meeting to August 12. This postponement comes after the Audit Committee failed to approve the unaudited financial results for the quarter ended June 30. The rescheduled board meeting will now consider and approve these financial results.
Change in Statutory Auditor
In a notable development, Thinkink Picturez has undergone a change in its statutory auditor. The company announced the resignation of M/s Parin Patwari & Co., effective July 31. The outgoing auditor cited their decision to discontinue operating as a proprietorship firm as the reason for the resignation.
Appointment of Interim Auditor
To ensure continuity in financial oversight, the Board of Directors has appointed M/s Chandabhoy & Jassoobhoy, Chartered Accountants, as the interim Statutory Auditors. This appointment is subject to shareholder approval at the upcoming General Meeting.
New Auditor Profile
M/s Chandabhoy & Jassoobhoy (FRN No. 101648W) is a chartered accountancy firm with its head office in Ahmedabad. The firm is registered with the Institute of Chartered Accountants of India (ICAI) and holds a valid Peer Review certificate. They specialize in providing audit and assurance services to their clients.
Terms of Appointment
The new auditors' appointment will be effective from the conclusion of the upcoming Annual General Meeting (AGM). Subject to shareholder approval, they are set to serve a five-year term as the company's statutory auditors.
These developments come at a crucial time for Thinkink Picturez as it prepares to release its quarterly financial results. Shareholders and market observers will be keenly watching the rescheduled board meeting on August 12 for insights into the company's financial performance and the impact of these governance changes.
Thinkink Picturez Limited, with its registered office in Mumbai and corporate office in Ahmedabad, operates under the CIN L22300MH2008PLC181234. The company has assured that all necessary notifications have been made to the appropriate regulatory bodies, including the BSE.
Historical Stock Returns for Thinkink Picturez
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +3.57% | +3.57% | -3.33% | -29.27% | -71.29% | -68.82% |
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