Bharat Wire Ropes Limited has informed the Exchange regarding Change in Auditors of the company.
BHARATWIRE · price
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Bharat Wire Ropes Limited has appointed M/s. Borkar & Muzumdar, Chartered Accountants (FRN: 101569W), as its new Statutory Auditor, effective 7th March 2026. The appointment is to fill the casual vacancy caused by the resignation of the previous auditor, M/s. CNK & Associates LLP. Borkar & Muzumdar is a peer-reviewed firm with over 75 years of experience, 19 partners, and 230+ staff, and has served as Statutory Central Auditor for several public and private sector banks, NBFCs, and insurance companies. The appointment is subject to shareholder approval at the next General Meeting. The board approved the change on 7th March 2026 based on the recommendation of the Audit Committee.
This is a mid-term auditor change, as the previous auditor resigned before completing its term. While the new auditor is a well-established firm, sudden auditor resignations can sometimes raise governance concerns. Shareholders should watch for any further disclosures explaining the reason for the outgoing auditor's resignation.