Pankaj Polymers auditor resigns: key board moves 2026

What the company disclosed

Pankaj Polymers Limited has disclosed a set of governance and audit-related changes, including the resignation of its statutory auditor and fresh internal audit appointments. The key event is the resignation of M/s. Luharuka & Associates as statutory auditor, effective May 29, 2026. Alongside this, the board re-designated Mr. Aman Goel from Whole-Time Director to Non-Executive Director, effective June 19, 2026. The company also appointed M/S. CRA And Associates as internal auditors for FY 2026-27. These are compliance-driven disclosures that typically fall under listing-related reporting and corporate governance updates.

Statutory auditor resignation: who resigned and when

The company’s statutory auditor, M/s. Luharuka & Associates, resigned with effect from May 29, 2026. The reason cited was “pre-occupation and prior commitments.” The auditor also confirmed there were no material reasons behind the resignation and that there were no concerns regarding the company’s management. The disclosure indicates the resignation created a casual vacancy that the board plans to fill.

What the auditor said about the resignation

As per the company’s disclosure, the auditor stated that the resignation was not linked to any qualification or adverse observation about the company’s financial statements or management. The company also noted that the auditors’ report to shareholders for the year under review did not contain any qualification, reservation, or adverse remark. Such statements are typically included to clarify that the resignation is not connected to disputed accounting treatment, alleged governance issues, or unresolved audit matters.

Tenure details and latest audit timeline

The disclosure provides multiple reference points on the auditor’s appointment and audit work. M/s. Luharuka & Associates was appointed for the financial year 2024-2025, with a term scheduled to expire until the financial year 2028-2029. In another reference, the shareholders at the 32nd AGM held on September 28, 2024 appointed the firm as statutory auditors for five years, to hold office from the conclusion of the 32nd AGM up to the conclusion of the 37th AGM to be held in calendar year 2029. The latest audit conducted by the firm was for the year ended March 31, 2026, with the audit report signed on April 30, 2026.

Next steps: appointment of a new statutory auditor

Pankaj Polymers said its board will consider appointing a new statutory auditor to fill the casual vacancy “in due course.” The company also stated that it will notify the exchanges once a new statutory auditor is appointed to fill the vacancy. This implies the appointment process is pending and will be communicated through a subsequent exchange filing when finalised.

Board change: Aman Goel re-designated as Non-Executive Director

Concurrent with these departures and appointments, the board re-designated Mr. Aman Goel from Whole-Time Director to Non-Executive Director. The effective date for this change is June 19, 2026. The disclosure does not add reasons for the re-designation, and it does not describe any change in responsibilities beyond the executive to non-executive shift.

Internal audit: CRA And Associates appointed for FY2026-27

The company appointed M/S. CRA And Associates, Chartered Accountants, as internal auditors for the financial year 2026-27. The firm is registered under number 020714N. As disclosed, the firm brings experience in internal audits, risk assessment, and regulatory compliance reviews. Internal auditors generally focus on controls and compliance processes and typically work in coordination with management and the audit committee.

Other governance references in the disclosures

The material also references other compliance and audit elements. The board appointed Mrs. N. Madhavi & Associates, Company Secretaries in Practice, to carry out the secretarial audit under Section 204 of the Companies Act for FY 2024-25. Separately, the company noted that the financial results for the quarter and nine months ended December 31, 2025 were reviewed and recommended by the audit committee and approved by the board at meetings held on January 10, 2026. The same results were reviewed by the statutory auditors in terms of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Promoter holding update mentioned in the text

The disclosure text also states that Mr. Sandeep Jain, Mr. Vikas Garg, Mr. Rahul Nagar, and Mr. Himanshu Arora have become promoters, acquiring a combined 58.14% stake. No further details are provided in the supplied text on timing, mode of acquisition, or regulatory filings linked to the promoter change beyond this statement.

Market reference: share price snapshot provided

A share price reference included in the text states that, as on September 5, 2025 at 03:31 PM IST, Pankaj Polymers’ share price was unchanged by 0.00% versus the previous close of Rs 17, and the share price was Rs 18.70. This is presented as a snapshot and is not linked in the text to the audit or board changes disclosed for 2026.

Key facts at a glance

Why these disclosures matter for investors

Auditor resignations are closely tracked because they can affect timelines for audits, limited reviews, and regulatory filings, even when the stated reason is capacity-related. In this case, the auditor explicitly stated there were no material reasons and no management concerns, and the latest audit for FY ended March 31, 2026 was signed on April 30, 2026. Still, the company will need to complete the process of appointing a replacement statutory auditor and communicate the appointment to stock exchanges.

The re-designation of a Whole-Time Director to a Non-Executive Director is also a significant board-level update because it changes executive oversight structures and how management is represented on the board. The internal auditor appointment for FY 2026-27 adds another layer of compliance reporting, with the appointed firm’s experience described as covering internal audits, risk assessment, and regulatory compliance reviews.

Conclusion

Pankaj Polymers has reported the resignation of its statutory auditor, M/s. Luharuka & Associates, effective May 29, 2026, alongside a board-level re-designation effective June 19, 2026 and a new internal auditor appointment for FY 2026-27. The company has said its board will consider appointing a new statutory auditor to fill the casual vacancy and will notify exchanges once the appointment is completed.