CMI Limited has informed the Exchange about Resignation of Statutory Auditor
Awaiting price reaction for this filing.
CMI Limited announced that its statutory auditor, M/s. Bagchi Kejriwal & Co., Chartered Accountants, has resigned effective 18th April 2026. The resignation letter was dated 18th April 2026 and communicated by the Resolution Professional, indicating the company is under an Insolvency Resolution Process (IRP). The auditor cited unavoidable reasons beyond their control as the cause. They also served as the Tax Auditor and requested release of long-due pending fees. No other material reasons were stated beyond those in the resignation letter. The company now needs to appoint a replacement auditor as per the Companies Act, 2013.
The mid-term resignation of the statutory auditor, especially during an ongoing insolvency process, raises governance concerns and may delay financial reporting. Investors should watch for the appointment of a new auditor and any impact on upcoming quarterly results or the insolvency resolution timeline.