Mangalam Industrial Finance Announces Appointment of New Auditors Following Board Meeting

On August7, 2026, Mangalam Industrial Finance Limited has formally announced the appointment of a new audit firm, as per the exchange filings.  

This decision was finalised during the board meeting conducted on August 7, 2026, to ensure the continuity of financial oversight and regulatory compliance within the organisation. 

Board Approval of Statutory Auditor Appointment 

During the board meeting held on August 7, 2026, the directors of Mangalam Industrial Finance Limited approved the appointment of M/s Arun Ratnawat & Associates, Chartered Accountants, as the company’s statutory auditors.  

This appointment is intended to fill the casual vacancy created following the resignation of the previous auditor, M/s Mahesh Udhwani & Associates. 

The newly appointed firm holds the ICAI firm registration number 010664C. M/s Arun Ratnawat & Associates has provided the necessary consent and eligibility certificates as required under the Companies Act, 2013. The appointment became effective on August 7, 2026. 

Background Regarding the Auditor Change 

The previous auditor, M/s Mahesh Udhwani & Associates, had resigned from their position as statutory auditor with effect from May 14, 2026. Following this vacancy, the audit committee recommended the appointment of the current firm to the board of directors. 

Operational Details of the Board Meeting 

The board meeting on August 7, 2026, commenced at 10:00 P.M. and concluded at 11:00 P.M. The company has confirmed that the details regarding this regulatory disclosure are available on its official website.  

The firm, M/s Arun Ratnawat & Associates, is described as an audit and assurance practice, and the appointment carries no director relationship conflicts, as confirmed in the regulatory filing. 

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Mangalam Industrial Finance Share Price Performance 

As of August 07, 2026, at 3:30 PM, Mangalam Industrial Finance share price on BSE was closed at ₹0.58 up by 1.75% from the previous closing price. 

Conclusion 

Mangalam Industrial Finance Limited appointed M/s Arun Ratnawat & Associates as statutory auditors on August 7, 2026. This appointment fills the vacancy left by M/s Mahesh Udhwani & Associates, who resigned on May 14, 2026. 

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