Zeal Aqua Limited's Statutory Auditors Resign Citing Time Constraints

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.