Leading Leasing Finance and Investment Company Limited has announced the resignation of its statutory auditor, M/s S K Bhavsar & Co., Chartered Accountants. The resignation, effective from the closing of business hours on 26th October 2026, is attributed to re-allocation of professional commitments and capacity constraints within the audit firm. The company has provided a detailed disclosure of the reasons and circumstances surrounding the resignation as per SEBI regulations.
Auditor Resignation Announced
Leading Leasing Finance and Investment Company Limited has formally notified exchanges regarding the resignation of its statutory auditor, M/s S K Bhavsar & Co., Chartered Accountants. The resignation is effective as of the close of business on 26th October 2026.
Reasons for Resignation
The firm cited re-allocation of professional commitments and capacity constraints as the primary reasons for their resignation. They also mentioned a mutual decision considering the firm’s other engagements and bandwidth, coupled with a change in the company’s director, which made it difficult to dedicate the necessary time and attention to the audit effectively. Importantly, the auditors clarified that the resignation is not due to any fraud, non-compliance, or irregularity requiring reporting under Section 143(12) of the Companies Act, 2013, and they have no adverse remarks to report.
Disclosure and Compliance
The company has provided a detailed disclosure, formatted as Annexure A, in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This annexure includes details about the audit firm, the terms of their appointment, and the latest report submitted. The auditors also confirmed that there are no other material reasons for their resignation beyond what has been stated.
Leading Leasing Finance and Investment Company Limited extended its gratitude to the auditors for their cooperation during their tenure.
Source: BSE
