Alps Industries Limited has informed the Exchange regarding Change in Auditors of the company.
Awaiting price reaction for this filing.
Alps Industries Limited has appointed M/s O. Aggarwal & Co. Chartered Accountants (FRN-005755N) as its new Statutory Auditor with effect from August 14, 2025, to fill the casual vacancy caused by the resignation of the previous auditor, M/s A S GOEL & Co. The appointment is made under Section 139(8) of the Companies Act, 2013, and is initially for a period of up to three months or until members' approval at the next general meeting. The same change has also been carried out in the company's unlisted material subsidiary, Alps Energy Private Limited, where M/s R.K. Govil & Co. resigned and was replaced by the same new firm. Importantly, the company is currently under the IBC (Insolvency and Bankruptcy Code) 2016 process, with Mr. Hemant Sharma acting as Resolution Professional, who recommended the appointment through the Audit Committee.
Auditor changes during an ongoing insolvency resolution process can signal underlying issues, but this appears to be a routine procedural replacement of the audit firm. Shareholders should watch for the next general meeting outcome and any further disclosures related to the CIRP process, as auditor continuity is important for financial credibility during insolvency.