Zeal Aqua Limited Announces Statutory Auditor Change and Sets 17th AGM Date

1 min read     Updated on 05 Sept 2025, 04:28 PM
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Overview

Zeal Aqua has appointed M/s D C Jariwala & Co. as new statutory auditors, replacing M/s Patel Kabrawala and Co. The 17th AGM is scheduled for September 30, 2025, via video conferencing. Mr. Shahzad Yazdi Gandhi resigned as Independent Director. Mr. Dhavalkumar Shantilal Patel's remuneration as Whole-Time Director revised to Rs. 3,00,000 per month. The company approved the Director's Report, Annual Report, and appointed a scrutinizer for e-voting.

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*this image is generated using AI for illustrative purposes only.

Zeal Aqua , a prominent player in the aquaculture industry, has made several significant announcements following its board meeting held on September 5, 2025. The company has disclosed changes in its statutory auditor, set the date for its upcoming Annual General Meeting (AGM), and revealed other important corporate decisions.

Change in Statutory Auditor

The board of Zeal Aqua has accepted the resignation of M/s Patel Kabrawala and Co., Chartered Accountants, as the company's statutory auditors. The outgoing auditors cited pre-occupation with other assignments as the reason for their departure, effective September 4, 2025.

To fill this vacancy, the board has appointed M/s D C Jariwala & Co., Chartered Accountants, as the new statutory auditors of the company. This appointment is subject to shareholder approval at the upcoming Annual General Meeting. M/s D C Jariwala & Co. is set to hold office from September 5, 2025, until the conclusion of the 22nd AGM, covering a period of five years.

17th Annual General Meeting

The company has scheduled its 17th Annual General Meeting for September 30, 2025, to be held via video conferencing. In preparation for the AGM, the board has set the book closure dates from September 22 to September 25, 2025, with September 23, 2025, designated as the cut-off date for e-voting purposes.

Board Composition and Remuneration Changes

Zeal Aqua also announced changes in its board composition. The company noted the resignation of Mr. Shahzad Yazdi Gandhi from his position as Independent Director, effective August 25, 2025.

Additionally, the board approved revised remuneration terms for Mr. Dhavalkumar Shantilal Patel, who serves as a Whole-Time Director. Subject to shareholder approval, Mr. Patel's revised remuneration is set at Rs. 3,00,000.00 per month, effective from September 22, 2025, until September 21, 2027.

Other Key Decisions

The board meeting also covered several other important matters:

  1. Approval of the Director's Report for the year ended March 31, 2025.
  2. Approval of the Annual Report for the financial year 2024-25.
  3. Appointment of Mr. Dhaval P. Master as the scrutinizer for e-voting at the 17th AGM.
  4. Recommendation for the reappointment of Mr. Rohan Pradipkumar Navik, who retires by rotation and offers himself for reappointment.

These developments reflect Zeal Aqua's commitment to maintaining strong corporate governance practices and ensuring transparency with its shareholders. The upcoming AGM will provide an opportunity for shareholders to engage with the company's management and vote on these crucial matters.

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Zeal Aqua Limited's Statutory Auditors Resign Citing Time Constraints

1 min read     Updated on 04 Sept 2025, 06:08 PM
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Overview

M/s Patel Kabrawala and Co, Chartered Accountants, have resigned as statutory auditors of Zeal Aqua Limited, effective September 4, 2025. The auditors cited pre-occupation with other assignments and inability to devote sufficient time as reasons for their departure. They completed the statutory audit for FY 2024-25 and the Q1 FY 2025-26 limited review before resigning. The auditors confirmed no disputes with the company and receipt of all necessary information. Zeal Aqua has informed the BSE of this development in compliance with SEBI regulations.

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*this image is generated using AI for illustrative purposes only.

Zeal Aqua Limited , a company listed on the Bombay Stock Exchange (BSE), has announced the resignation of its statutory auditors, M/s Patel Kabrawala and Co, Chartered Accountants. The auditing firm cited pre-occupation with other assignments and inability to devote sufficient time to the company's affairs as the primary reasons for their departure.

Resignation Details

The resignation, effective September 4, 2025, comes less than two years into the auditors' five-year term. M/s Patel Kabrawala and Co were appointed on September 22, 2023, with their term originally scheduled to expire on March 31, 2028.

Audit Completion and Assurances

Despite their early departure, the auditors have completed several key financial reviews:

  • Statutory audit for the financial year ended March 31, 2025 (audit report issued on June 19, 2025)
  • Limited review report for the first quarter of fiscal year 2025-26 (submitted on August 5, 2025)

In their resignation letter, the auditors confirmed that they had no disputes with the company and had received all necessary information for audit purposes. They emphasized that there were no material reasons for their resignation beyond the stated time constraints.

Regulatory Compliance

Zeal Aqua Limited has promptly informed the BSE of this development, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has also provided detailed information as required by SEBI circulars, including CIR/CFD/CMD1/114/2019 dated October 18, 2019.

Company Response

Anita Digbijay Paul, Company Secretary & Compliance Officer of Zeal Aqua Limited, has confirmed the receipt of the auditors' resignation letter and assured stakeholders that the company is taking necessary steps to address this change in compliance with statutory provisions.

Next Steps

The company will need to appoint new statutory auditors to ensure continued compliance with regulatory requirements and maintain transparency in financial reporting. Shareholders and investors will likely be watching closely for announcements regarding the appointment of new auditors in the coming weeks.

This development underscores the importance of maintaining stable audit relationships and the potential challenges companies face when unexpected changes occur in their financial oversight teams.

Historical Stock Returns for Zeal Aqua

1 Day5 Days1 Month6 Months1 Year5 Years
-0.20%-1.20%-11.13%-23.14%-27.79%+56.40%
Zeal Aqua
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