Sanmit Infra Ltd Replaces Statutory Auditor and Records Director Resignation Amid Equity Consolidation Decisions
Sanmit Infra Ltd's Board of Directors conducted a meeting on July 10, 2026, during which several key corporate changes were formalized, including the replacement of its statutory auditor and the recording of a director's resignation. The board also approved the distribution plan for net proceeds resulting from the company’s equity consolidation process.The Board took note of the resignation of M/s. PAMS & Associates, Chartered Accountants, as the Statutory Auditor, effective June 12, 2026. The firm cited geographical constraints in their resignation letter, noting that it had become impractical to efficiently conduct audit procedures given the company’s operations were based in Mumbai and the firm was located in Bhubaneswar.
Following this change, M/s. S & Associates, Chartered Accountants, has been appointed as the new Statutory Auditor of Sanmit Infra Ltd. The appointment covers a term of five years, spanning from Financial Year 2026-2027 to 2030-2031, pending approval by members at the forthcoming Annual General Meeting.
Details regarding the newly appointed auditor and their scope were documented as follows:
| Particulars | Details (M/s S & Associates) |
|---|---|
| Appointment Term | 5 years (Financial Year 2026-2027 to 2030-2031) |
| Firm Structure | Has 4 partners, all Chartered Accountants. |
| Head Office Location | D -1 Building No.2 Prakash Nagar, Behind Cottage Hospital Karad Satara 415 110. |
| Branch Offices | Mumbai and Pune. |
| Services Provided | Statutory Audit (Companies Act, 2013), Internal Audits, Management Audit, Bank Audit, Limited Review, Tax Audit, Foreign Exchange Remittance Certifications, Special Purpose Audit & Certifications, Information System Audit, Transfer Pricing Audit. |
In another corporate development, the Board took on record the resignation of Mr. Ajay Nanik Chandwani (DIN: 09332747) from the post of Director (Non-Executive: Independent Director). The company recorded this change effective June 13, 2026, noting that the resignation was due to advancing age and health related issues.
Furthermore, concerning the equity consolidation project, which was previously approved by the Board on February 4, 2026, and subsequently endorsed by members at the Extraordinary General Meeting (EGM) held on March 18, 2026, the Board decided to distribute the net proceeds realized from the sale of fractional shares. This distribution will be made among eligible shareholders proportionally, after deducting all expenses incurred in connection with such a sale, including applicable taxes, charges, and other related costs.
Stock Price Movement
Sanmit Infra Ltd settled at ₹51.35 on Friday after ticking up 0.21%.The shares moved within a wide intraday range, hitting a low of ₹49.11 and peaking at a high of ₹52.40 during the trading session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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