CMI Limited has informed the Exchange regarding Change in Auditors of the company.
Awaiting price reaction for this filing.
M/s. Bagchi Kejriwal & Co., Chartered Accountants has resigned as the Statutory Auditor of CMI Limited effective 18th April 2026. The auditor cited unavoidable reasons and circumstances beyond their control as the cause for resignation. The company appears to be under insolvency proceedings as a Resolution Professional is mentioned in the disclosure. The resignation letter was received on 18th April 2026 but only disclosed to the stock exchanges on 18th May 2026, a one-month delay. The auditor also requested release of long-due pending fees for both statutory and tax audit work. A new auditor needs to be appointed as per the Companies Act, 2013.
Auditor resignations during insolvency proceedings often signal governance concerns or financial stress. The company must appoint a new auditor quickly to avoid delays in financial reporting and compliance with listing requirements.