A G Universal statutory auditor resigns citing staff constraints
Audit firm Goyal Nagpal & Co resigned as A G Universal's statutory auditor on 29 October 2026, citing staff constraints and other commitments, according to a filing the company made with the NSE.
Key points
- A G Universal said in an NSE filing that its statutory auditor, Goyal Nagpal & Co, resigned with effect from 29 October 2026.
- The auditor said in its letter that it lacked adequate experienced staff and had other professional commitments; it was appointed on 30 November 2021.
- The auditor said it has no other concerns about the company's financial statements or books of account beyond its letter.
A G Universal Limited said in a filing with the National Stock Exchange that its statutory auditor, Goyal Nagpal & Co, Chartered Accountants, has resigned with effect from 29 October 2026. The filing includes the audit firm's resignation letter, in which the firm gives staff constraints and other professional commitments as its reasons.
What Happened
The filing contains a letter from Goyal Nagpal & Co addressed to the company's board, headed "Resignation from the Office of Statutory Auditor". The firm wrote that it was resigning "with effect from 29 October 2026".
The letter gives this reason: "constraints in the availability of adequate experienced professional staff within our firm, coupled with our existing professional commitments". It adds that the firm is "presently unable to devote the requisite resources, time, supervision and professional attention necessary to conduct the statutory audit assignment in accordance with the applicable professional standards, regulatory requirements and timelines".
The firm wrote that it considered it appropriate to resign "with immediate effect so that the Company may make suitable alternative arrangements for the conduct and completion of the statutory audit".
The filing also includes a form the auditor completed in the format prescribed by a SEBI master circular dated 11 July 2023. In it, the firm records:
- It was originally appointed as the company's statutory auditor on 30 November 2021.
- It resigned on 29 October 2026, by a letter of the same date.
- The last report it signed was for the financial year 2025-26.
- Asked whether it has any other concerns about the financial statements or books of account that are not in the resignation letter, the firm answered "No".
The filing does not say who will replace the firm or when the company will appoint a new auditor. It does not include a response from the company.
What It Means
An auditor's resignation is a disclosure the company is required to make to the stock exchange. This one is reported as the company and the auditor disclosed it: the firm's own stated reason is about its capacity, and it states that it has no further concerns about the company's financial statements or books of account. The filing does not allege any wrongdoing by the company.
Investors and shareholders who want the full text can read the resignation letter and the accompanying form in the company's filing on the National Stock Exchange website. Complaints against listed companies can be made at https://scores.sebi.gov.in.
Source: Company filing on NSE
Sources & Citations
- Company filing on NSE — National Stock Exchange of India