Promax Power Ltd — Important, 05-12-2025: Company Update

Promax Power Limited announces that its statutory auditors, M/s Raj Gupta & Co., have resigned. The auditors cited pre-occupation with other assignments as the reason for their decision. Their resignation becomes effective after submitting the Limited Review Report for the half-year ended September 30, 2025, and other necessary documents. The Audit Committee and Board of Directors will acknowledge this resignation and will subsequently propose the appointment of new statutory auditors for shareholder approval. This ensures continued independent oversight of the company's financial reporting.