RESIGNATION OF A LISTED COMPANY AUDITOR IS NOT AN EASY JOB- VARIOUS INFORMATION HAS TO BE OBTAINED FROM LISTED ENTITY AFTER AUDITOR RESIGNATION. MANAPASAND BEVERAGES LTD’S AUDITOR RESIGNED FOR NON –PAYMENT OF AUDIT FEES AND LITIGATIONS FACED BY THE COMPANY.

 

RESIGNATION OF A LISTED COMPANY

 AUDITOR IS NOT AN EASY JOB- VARIOUS

 INFORMATION HAS TO BE OBTAINED FROM

 LISTED ENTITY AFTER AUDITOR

 RESIGNATION.

MANAPASAND BEVERAGES LTD’S

  AUDITOR RESIGNED FOR NON –PAYMENT

 OF AUDIT FEES AND LITIGATIONS FACED

 BY THE COMPANY.

RESIGNATION BY AN AUDITOR FROM A LISTED ENTITY

BAGARIA & CO, AUDIT FIRM HAS CONSIDERED THE DEVELOPMENTS SINCE THE LAST AUDIT REPORT INCLUDING VARIOUS PROCEEDING AND LITIGATIONS FACED BY THE COMPANY AND LONG OVERDUE AUDIT FEES.

THEY  HAVE REASSESSED OUR ABILITY TO CONTINUE AS AUDITORS IN TERMS OF APPLICABLE FRAMEWORK INCLUDING SQC 1 & CODE OF ETHICS ISSUED BY THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA AND WE ARE OF THE VIEW THAT OUR INDEPENDENCE TO CONDUCT THE AUDIT STANDS IMPACTED.

ACCORDINGLY, THEY TO HEREBY CONVEY OUR RESIGNATION AS STATUTORY AUDITORS OF THE COMPANY WITH IMMEDIATE EFFECT.”

AS PER SEBI, RESIGNED AUDITOR SHOULD OBTAIN THE FOLLOWING INFORMATION IMMEDIATELY AFTER HIS RESIGNATION FROM AUDIT OF AN LISTED COMPANY.

Information to be obtained from the listed company by resigned auditor as per SEBI Circular  CIR/CFD/CMD1/114/2019 dated 18 October 2019

Information to be obtained from the statutory auditor upon

 resignation

1.Name of the listed entity/ material subsidiary:

2.Details of the statutory auditor:

a.Name:

b.Address:

c.Phone number:

d.Email:

3.Details of association with the listed entity/ material subsidiary:

a.Date on which the statutory auditor was appointed:

b. Date on which the term of the statutory auditor was scheduled to expire: 

c. Prior   to   resignation,   the   latest   audit   report/limited   review   report submitted by the auditor and date of its submission.

4. Detailed reasons for resignation:

5.In  case  of  any  concerns,  efforts  made  by  the  auditor  prior  to  resignation (including approaching the Audit Committee/Board of Directors along with the date of communication made to the Audit Committee/Board of Directors)

6.In  case  the  information  requested  by  the  auditor  was  not  provided,  then following shall be disclosed:

a. Whether the inability to obtain sufficient appropriate audit evidence was due to a management-imposed limitation or circumstances beyond the control of the management.

b. Whether the lack of information would have significant impact on the financial statements/results.

c. Whether the  auditor  has  performed  alternative  procedures  to  obtain appropriate  evidence  for  the  purposes  of  audit/limited  review  as  laid down in SA 705 (Revised)

d. Whether the lack of information was prevalent in the previous reported financial   statements/results.

  If   yes,   on   what   basis   the   previous audit/limited review reports were issued

.7.Any other facts relevant to the resignation:

R V SECKAR FCS ,LLB79047 19295