This has reference to the exchanges e-mail communication dated 30th August, 2018 for clarification on the board meeting held on 25th August, 2018. In this connection we state as under.
1. The Board of Directors of the Company at its meeting held on 25th August, 2018 recommended M/s Bhuta Shah & Co. LLP, Chartered Accountants to the shareholders for appointment as the Statutory Auditors in the casual vacancy caused by resignation of the present Statutory Auditor M/s V.S. Lalpuria & Co to hold office from the conclusion of 26th Annual General Meeting till the conclusion of 31st Annual General Meeting of the Company. The Shareholders will consider the appointment at the forthcoming Annual General Meeting scheduled to be held on 27th September, 2018.
Brief profile of Bhuta Shah & Co. LLP, Chartered Accountants is given here below:
Bhuta Shah & Co. LLP is a professional Chartered Accountants firm with a distinctive blend of skill sets, experience and expertise in the field of Audit & Assurance, Direct Taxation, Indirect Taxation, Corporate Advisory, Corporate Finance and Legal Compliance. They have about 32 years of experience in the above field. Bhuta Shah & Co. LLP has a dedicated team of professionals offering a wide range of industry focused business solutions. Established in 1986, Bhuta Shah & Co. LLP comprises of 8 Partners, 4 Senior Consultants and 120 professional staff. In association with Morison KSi, a global professional servicing firm, Bhuta Shah & Co. LLP is serving cross border Accounting, Auditing, Tax and Consulting need of the Clients.
2. Change in Auditor is due to resignation of the present Statutory Auditor M/s V.S. Lalpuria & Co. with effect from the forthcoming Annual General Meeting.
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