Leading Leasing Finance Auditor Resigns; No Irregularities Reported

Resignation effective October 26, 2026, following the September 2026 quarter review.
Auditor confirmed no fraud or regulatory non-compliance under the Companies Act, 2013.

Reader Takeaway: Administrative change with no reported financial misconduct, though new auditor appointment remains a key watchpoint.

What just happened

Leading Leasing Finance and Investment Company Ltd has formally notified the exchange that its statutory auditor, M/s S K Bhavsar & Co., has resigned. The resignation took effect at the close of business hours on October 26, 2026. The firm’s last official task for the company was the submission of the Limited Review Report for the quarter ending September 2026, filed on October 22, 2026.

Why this matters

Auditor resignations are sensitive events for investors. They are often scrutinized for potential governance red flags. However, in this case, the departing firm explicitly clarified that its decision was based on internal capacity constraints and professional re-allocation, exacerbated by a change in the company's director. Importantly, the firm confirmed that there were no findings of fraud, non-compliance, or financial irregularities requiring disclosure under Section 143(12) of the Companies Act, 2013.

What to track next

Investors should monitor official company filings for the appointment of a new statutory auditor. The transition process and the subsequent auditor's remarks on the company's financial health will be crucial to maintaining confidence in the firm's reporting standards. No negative remarks were provided in the final communication from the outgoing auditor.