Re-appointment of Statutory Auditor of the Company.
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The Board of Directors of Aditya Birla Fashion and Retail Ltd has approved the re-appointment of Price Waterhouse & Co Chartered Accountants LLP as the Statutory Auditor of the Company. This is for a second term of 5 consecutive years, from the conclusion of the 19th AGM till the conclusion of the 24th AGM. The appointment is subject to approval by shareholders at the ensuing AGM. The recommendation was made by the Audit Committee. Price Waterhouse & Co is a well-established chartered accountant firm registered with ICAI, holding a valid peer review certificate.
This is a routine governance matter indicating continuity in the company's audit function. The re-appointment of an established firm like PwC suggests no concerns with the current auditor and should be neutral for shareholders.