Shayona Engineering Limited has received the resignation of its statutory auditors, M/s. O. P. Rathi & Co., Chartered Accountants. The firm cited existing professional commitments and constraints in allocating adequate time and resources as the reason for their resignation, effective November 05, 2026. The company stated there were no issues related to information availability, management cooperation, or fraud. Shayona Engineering is taking steps to appoint a new statutory auditor to fill the vacancy.
Statutory Auditor Resignation Announced
Shayona Engineering Limited has formally notified the stock exchange regarding the resignation of its statutory auditor, M/s. O. P. Rathi & Co., Chartered Accountants. The resignation was effective from November 05, 2026, with the company receiving the notification on November 06, 2026.
Reason for Resignation
In their resignation letter, M/s. O. P. Rathi & Co. cited existing professional commitments and pre-occupation with other professional assignments as the primary reason for their decision. They indicated that these commitments resulted in constraints in allocating adequate professional time and resources required to effectively discharge their responsibilities for the statutory audit engagement of Shayona Engineering.
The firm further clarified that their resignation is based solely on these commercial, professional, and resource-allocation considerations. They explicitly stated that there are no issues relating to non-availability of information, lack of cooperation from the management, fraud, suspected fraud, or any other material concern requiring reporting.
Company’s Next Steps
Shayona Engineering Limited has confirmed that they are actively taking the necessary steps to fill the resultant casual vacancy in accordance with Section 139(8) of the Companies Act, 2013. The company will inform the stock exchange once the new statutory auditor has been appointed.
Both the Audit Committee and the Board of Directors of Shayona Engineering Limited took note of the resignation during their respective meetings held on Friday, November 06, 2026.
Auditor Details
M/s. O. P. Rathi & Co. is a Chartered Accountant firm registered under Firm Registration Number 108718W. Their address is 4th Floor, 4th Block, 73 East Avenue, Sarabhai Campus, Vadodara – 390 007.
Source: BSE
