Bharat Wire Ropes Limited has informed the Exchange regarding Notice of Postal Ballot
BHARATWIRE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Bharat Wire Ropes Limited is seeking shareholder approval via postal ballot to appoint M/s. Borkar & Muzumdar, Chartered Accountants (FRN: 101569W) as the new Statutory Auditor, filling a casual vacancy left by the resignation of M/s. CNK & Associates LLP. The outgoing auditor resigned on 9th February 2026 after requesting a fee hike, which the company declined, stating that current audit fees are already significantly higher than the previous period and business operations remain at the same level. The new auditor will hold office until the next Annual General Meeting, with audit fees capped at Rs. 10 Lakhs plus taxes — broadly in line with what was paid to the previous auditor. E-voting runs from 6th April 2026 to 5th May 2026, with results expected by 6th May 2026. Borkar & Muzumdar is a 75-year-old firm with 19 partners and 230+ staff, serving as central auditor for several public and private sector banks, NBFCs, and insurance companies.
The mid-term auditor change, triggered by a fee disagreement, is a mild governance red flag worth watching, though the company has appointed a well-established replacement at comparable fees. Shareholders should vote on the postal ballot; outcome is expected to be procedural approval.