CMI Limited has informed the Exchange regarding Change in Auditors of the company.
Awaiting price reaction for this filing.
CMI Limited, which is currently undergoing Corporate Insolvency Resolution Process (CIRP) after the NCLT admitted Canara Bank's petition under Section 7 of the Insolvency and Bankruptcy Code, has appointed M/s. Lal Ghai & Associates, Company Secretaries, as its Secretarial Auditor. The appointment was made by the Resolution Professional (whose powers replaced the suspended Board of Directors) with effect from 31st March 2025, covering the financial years ending 31st March 2024, 31st March 2025, and 31st March 2026. Lal Ghai & Associates is a peer-reviewed firm established in 2014, handling company law, SEBI compliances, IBC, and related matters. This is a routine compliance filing required during the insolvency process, with the catch-up audit for FY 2023-24 suggesting the previous secretarial auditor was replaced due to the CIRP transition.
The company remains deep in financial distress with its Board suspended and a Resolution Professional in control — shareholders face significant uncertainty, and the stock remains a high-risk bet pending the outcome of the insolvency resolution. This particular filing is a procedural compliance step and is unlikely to move the share price on its own.