Mahesh Developers Ltd Appoints New Statutory and Secretarial Auditors
The Board of Directors of Mahesh Developers Ltd. held a board meeting on April 17, 2026, during which the company reviewed and approved several key appointments regarding its audit and compliance functions. The Board formally took note of the resignation of the previous statutory auditor and approved the appointment of new professional auditors to fill both the statutory and secretarial audit roles.Resignation of Statutory Auditor
The Board took note of the resignation of M/s. Bhairavi & Associates, Chartered Accountants, from the position of Statutory Auditor. The resignation was tendered by CA Bhairavi M Shah, Proprietor of M/s. Bhairavi & Associates, stating her inability to continue serving as the Statutory Auditor.In the resignation letter, CA Bhairavi M Shah cited professional reassessment as the primary reason for stepping down. She noted that due to recent changes and amendments in financial reporting and disclosure requirements, which necessitated performing additional audit procedures, the required scope and reporting increased. Consequently, she reassessed the firm’s ability to continue in terms of the Standards on Auditing and Standards on Quality Control issued by the Institute of Chartered Accountants of India.
The Audit Committee reviewed the circumstances of the resignation and aligned with the reasons provided by the former Statutory Auditor.
Appointment of New Statutory Auditor
The Board of Directors subsequently approved the appointment of M/s. Sunit M. Chhatbar & Co., Chartered Accountants, as the company’s Statutory Auditors. This appointment was recommended by the Audit Committee and the Nomination & Remuneration Committee.M/s. Sunit M. Chhatbar & Co. will fill the casual vacancy created by the resignation. The appointed firm shall hold office until the ensuing Annual General Meeting (AGM) of the company.
The details of the new Statutory Auditor are provided below:
| Particulars | Details |
|---|---|
| Name of Auditor | M/s. Sunit M. Chhatbar & Co., Chartered Accountants (FRN: 141068W) |
| Designation | Statutory Auditor of the Company |
| Reason for Appointment | To fill the casual vacancy in the office of the Statutory Auditor. |
| Effective Date | April 17, 2026 |
| Auditor Profile | Mr Sunit M Chhatbar, Proprietor of M/s Sunit M Chhatbar & Co, Chartered Accountants. He is an FCA and B.Com from Saurastra University and possesses expertise in providing Auditing, Finance, Legal, taxation, assurance, and regulatory services. |
| Relationship | No relation with the management or directors of the Company. |
Appointment of Secretarial Auditor
In addition to the statutory audit changes, the Board of Directors also approved the appointment of Mr. Khushal Bherulal Bajaj, Practising Company Secretary, as the Secretarial Auditor for the Financial Year 2025-2026.The details of the newly appointed Secretarial Auditor are as follows:
| Particulars | Details |
|---|---|
| Name of Auditor | Mr. Khushal Bherulal Bajaj, Practising Company Secretary (ACS No.-49466) |
| Designation | Secretarial Auditor of the Company |
| Applicable Period | Financial Year 2025-2026 |
| Appointment Status | Approved by the Board of Directors. |
| Profile | A Practicing Company Secretary, holding qualifications in BCCA, M. Com, and LL.B., with expertise in corporate laws, governance, and compliance. |
Mahesh Developers Ltd. is registered as an erstwhile Mahesh Developers Pvt. Ltd.
Stock Price Movement
Mahesh Developers Ltd shares settled at ₹12.30 on Monday, marking a significant gain of 4.95% for the day. The equity spent the session moving between an intraday low of ₹11.14 and a peak of ₹12.30.Source:
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