Advik Capital Board Overhaul and Auditor Transition

• Appointment of M/s. MASAR & Co. as Statutory Auditor
• Resignation of two Independent Directors effective September 5, 2026

Reader Takeaway: The auditor transition is routine, but the dual departure of independent directors necessitates closer governance monitoring.

What just happened

Advik Capital has formalized the appointment of M/s. MASAR & Co., Chartered Accountants, as its new statutory auditor. This follows the resignation of the previous auditor, M/s. KSMC & Associates. The new appointment is set for a five-year term, subject to shareholder approval at the upcoming Annual General Meeting (AGM).

Concurrently, the company saw the departure of Independent Directors Mr. Devender Kumar Garg and Mr. Rajnish Kumar Gupta. Management has attributed these exits to health and personal reasons, respectively, stating no other material factors exist behind the resignations.

Why this matters

The appointment of a new auditor ensures continuity in financial oversight. However, the exit of two independent directors from the board is a governance update that shareholders often view as a signal to review board stability. The company has moved quickly to reconstitute its Audit and Nomination & Remuneration Committees to maintain compliance.

What changes now

• Committee Composition: Ms. Swati Gupta now chairs the Audit Committee, while Mr. Mukesh Kumar Puniani takes over the chair of the Nomination and Remuneration Committee.
• AGM Prep: The 41st AGM will be held on September 30, 2026, via video conferencing. The company has set a book closure period between September 24 and September 30, 2026.

What to track next

Investors should look for the upcoming FY 2025-26 Annual Report to evaluate the company's financial health and any further commentary regarding the board's new composition.