Valencia India Audit Committee Reviews Statutory Auditor Resignation Process
Valencia India Limited's Audit Committee conducted a comprehensive review of the statutory auditor resignation process, confirming that the outgoing auditor M/s. Doshi Doshi & Co raised no concerns about management conduct or financial reporting quality. The committee approved the appointment of M/s. Panchal S K & Associates as the new statutory auditor, ensuring compliance with all SEBI regulatory requirements.
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Valencia India Limited has completed its regulatory review process following the resignation of M/s. Doshi Doshi & Co as statutory auditor. The company's Audit Committee met on January 02, 2026, to assess the resignation and provide their views as required under SEBI regulations.
Audit Committee Assessment
The Audit Committee conducted a thorough review of the auditor resignation during their meeting held from 2:00 PM to 3:00 PM on January 02, 2026. The committee confirmed that M/s. Doshi Doshi & Co had not raised any concerns relating to management conduct, information availability, or financial reporting quality.
| Assessment Parameter | Committee Findings |
|---|---|
| Management Conduct | No concerns raised by auditor |
| Information Availability | Sufficient information was provided |
| Pending Issues | No unresolved matters remain |
| Financial Statement Integrity | No adverse impact confirmed |
| Regulatory Compliance | All requirements met |
Previous Auditor Resignation Details
M/s. Doshi Doshi & Co, Chartered Accountants, with registration number 153683W, had resigned as statutory auditors effective December 15, 2025. The auditing firm cited their inability to continue due to preoccupation with other assignments and inability to devote adequate time to Valencia India's audit affairs.
| Parameter | Details |
|---|---|
| Previous Auditor | M/s. Doshi Doshi & Co, Chartered Accountants |
| Registration Number | 153683W |
| Resignation Date | December 15, 2025 |
| Original Appointment | April 01, 2023 |
| Reason for Resignation | Preoccupation with other assignments |
New Auditor Appointment
The board has approved the appointment of M/s. Panchal S K & Associates, Chartered Accountants (FRN: 145989W) to fill the casual vacancy. The appointment is made pursuant to Section 139(8) of the Companies Act, 2013, and follows the recommendation of the Audit Committee.
| Parameter | Details |
|---|---|
| New Auditor | M/s. Panchal S K & Associates, Chartered Accountants |
| Registration Number | 145989W |
| Appointment Date | January 02, 2026 |
| Term Duration | Till conclusion of ensuing AGM for FY ended March 31, 2026 |
| Approval Required | Shareholder approval within three months |
Committee Appreciation and Compliance
The Audit Committee placed on record its appreciation for the services rendered by M/s. Doshi Doshi & Co during their tenure and confirmed compliance with all applicable regulatory requirements. The committee obtained necessary clarifications from both the auditor and management before concluding their assessment.
Regulatory Disclosure
The disclosure has been made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, in compliance with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company has fulfilled all regulatory requirements regarding the auditor transition process.
Historical Stock Returns for Valencia
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.82% | +1.55% | +4.17% | -64.20% | -74.93% | -74.93% |
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