Mangalam Alloys Limited — Others, 05-04-2025: Change in Auditors

Mangalam Alloys Limited has reported the resignation of its statutory auditor, KPSJ & Associates LLP, effective February 10, 2025. The firm cited increased commitments due to new assignments as the reason for their departure, which prevents them from dedicating the necessary attention to the company's audit responsibilities. This change may prompt a re-evaluation of the company's audit oversight, potentially affecting investor confidence. The company's management is expected to seek a new auditor to ensure continued compliance and transparency in financial reporting, which could present both risks and opportunities for shareholders moving forward.