Veedol Corporation Limited has successfully obtained ISO 31000:2018 Risk Management certification, marking a significant milestone in the company's commitment to robust risk management practices. The certification was awarded by Bureau Veritas India Private Limited following a comprehensive onsite assessment.

Certification Details

The company received email communication from Bureau Veritas India confirming the successful completion of ISO 31000:2018 Onsite Assessment Certification on December 11, 2025, at 3:11 PM. The assessment itself was conducted on December 10, 2025, demonstrating the efficiency of the evaluation process.

Scope of Certification

The ISO 31000:2018 certification encompasses enterprise risk management for all supporting processes across multiple business functions. The comprehensive scope includes:

• Corporate governance
• Financial management
• Manufacturing operations
• Information technology systems
• Sales and marketing activities
• Human resource management
• Research and development for lubricants

Multi-Site Coverage

The certification covers multiple locations of Veedol Corporation Limited:

Regulatory Compliance

The certification announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. This demonstrates the company's commitment to maintaining transparency with stakeholders and adhering to regulatory requirements.

Certification Validity

The ISO 31000:2018 certification remains valid until December 9, 2028, subject to continued satisfactory compliance during periodical assessments by Bureau Veritas. This three-year validity period reflects the comprehensive nature of the risk management framework implemented by the company across its operations.

Veedol Corporation Limited, formerly known as Tide Water Oil Co. (India) Limited, has announced a significant change in its auditing structure. M/s. SHORTS, Chartered Accountants, have tendered their resignation as statutory auditors for three of Veedol's UK-based entities, effective December 4, 2025.

Affected Subsidiaries

The auditor resignation impacts the following Veedol Corporation subsidiaries:

Key Points of the Resignation

1. Effective Date: The resignation takes effect from the close of business hours on December 4, 2025.

2. Auditor Statement: M/s. SHORTS has stated that there are no circumstances connected with their resignation that they consider should be brought to the attention of the companies' members or creditors.

3. Management Concerns: The auditors have not raised any concerns regarding the management of Veedol Corporation or its subsidiaries.

Implications and Next Steps

While auditor changes are not uncommon in the corporate world, they often warrant attention from shareholders and regulatory bodies. In this case, the lack of stated concerns from the outgoing auditors may provide some reassurance to stakeholders.

Veedol Corporation will likely need to appoint new statutory auditors for its UK subsidiaries in the near future. This process will be crucial to ensure continued compliance with financial reporting requirements and to maintain investor confidence.

Regulatory Compliance

As per the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Veedol Corporation has duly informed the stock exchanges about this material event. This transparency is essential for maintaining good corporate governance practices and keeping shareholders informed.

Investors and stakeholders of Veedol Corporation should stay tuned for further updates regarding the appointment of new auditors and any potential impact on the company's financial reporting timeline.