VIP Clothing Limited — Important, 21-11-2024: Updates

The Board of Directors of VIP Clothing Ltd. has noted the resignation of M/s. MSKA & Associates as statutory auditors, effective from November 14, 2024. In response, they approved the appointment of M/s. DMKH & Co. as the new statutory auditors to fill this vacancy, effective until the conclusion of the 35th Annual General Meeting. The Board has also authorized a Postal Ballot to secure shareholder approval for this appointment. Additionally, Mr. Rakesh Sanghani and Mr. Amit K. Trivedi from M/s. RAAM & Associates LLP will serve as scrutinizers for the Postal Ballot process. This transition highlights a strategic move to enhance the audit practice, with DMKH & Co. being a well-established firm with over 30 years of experience and a strong team. Investors should watch closely for shareholder responses regarding the new auditor and the broader implications for corporate governance.