EFC (I) Limited incorporates wholly-owned subsidiary EFC Estate Wakadewadi 2 Private Limited

EFC (I) Limited has informed the stock exchanges about the incorporation of its wholly-owned subsidiary, EFC Estate Wakadewadi 2 Private Limited. The Certificate of Incorporation was received from the Ministry of Corporate Affairs on April 29, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Subsidiary Details

The newly incorporated entity will operate in the real estate as a service sector. EFC Estate Wakadewadi 2 Private Limited is a wholly-owned subsidiary of EFC (I) Limited, the listed entity. The company was incorporated in India on April 29, 2026.

Business Operations

The subsidiary will hold and acquire property situated on the 2nd floor, B Wing/building, in the commercial complex known as Godrej Eternia. The property is located on sub-divided Final Plot bearing No. 64/A1, 64/B1 and 64/B2 at village Bhamburda, Shivaji Nagar, Taluka Pune City, District Pune, within the limits of Pune Municipal Corporation. The property will be acquired through demerger from EFC Limited, which is a material wholly-owned subsidiary of EFC (I) Limited.

Financial Details

Particulars Details Cost of subscription Rs. 1,000 (Rupees One Thousand) Share structure 100 equity shares of Rs. 10 each Shareholding by listed entity 100% Nature of consideration Cash Governmental approvals required Not Applicable

No governmental or regulatory approvals were required for the incorporation of this subsidiary. The transaction involves cash consideration, and EFC (I) Limited maintains complete control over the new entity through 100% shareholding.

EFC (I) Limited has announced significant changes to its statutory auditors following new regulatory requirements from the Institute of Chartered Accountants of India (ICAI). The changes affect EFC Limited, the company's wholly owned material subsidiary, and stem from mandatory compliance requirements for peer-reviewed audit firms.

Auditor Resignation Details

M/s. Nikhil Warankar & Co., the existing statutory auditors of EFC Limited, tendered their resignation effective April 24, 2026. The resignation is directly attributed to ICAI's announcement dated January 22, 2025, which mandates that statutory audits for financial year 2025-26 must be conducted by Peer Reviewed Firms.

Parameter: Details Resigning Firm: M/s. Nikhil Warankar & Co. (FRN: 153107W) Resignation Date: April 24, 2026 Original Appointment: September 30, 2022 Scheduled Term End: Annual General Meeting for FY 2026-27 Last Audit Report: Financial year ended March 31, 2025

The resigning auditors confirmed that M/s. Nikhil Warankar & Co. is not a Peer Reviewed Firm and therefore became statutorily ineligible to undertake the statutory audit of EFC Limited for financial year 2025-26. The firm emphasized that there are no other material reasons for their resignation beyond the regulatory compliance requirement.

New Auditor Appointment

The Board of Directors and shareholders of EFC Limited have approved the appointment of M/s. SKAND and Co. as the new statutory auditors to fill the casual vacancy created by the resignation.

Parameter: Details New Auditor: M/s. SKAND and Co. Firm Registration Number: 132898W Appointment Date: April 24, 2026 Qualification: Peer Reviewed Chartered Accountant Firm Firm Profile: Professional CA firm registered with ICAI since 2011

M/s. SKAND and Co. is described as a professionally managed Peer Reviewed Chartered Accountancy firm that has been registered with ICAI since 2011. The firm provides audit, assurance, taxation, regulatory and advisory services across Maharashtra with partner-led execution and proven quality standards.

Regulatory Compliance

The auditor changes ensure full compliance with SEBI regulations and ICAI requirements. EFC (I) Limited has made all necessary disclosures pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

The transition maintains continuity in audit services while ensuring adherence to the new peer review requirements mandated by ICAI for the financial year 2025-26. Both the resignation and appointment processes have been completed with appropriate documentation and regulatory filings to stock exchanges.

We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better.

Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians.

As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation. We plan to change that - a technology-led platform built for super traders and long term investors.