Appointment of Statutory Auditor: The Board of Directors upon completion of term of existing statutory auditor M/s M. A. Parekh & Associates, Chartered Accountants and based on the recommendation ....
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Coral Laboratories has appointed M/s. S C Mehra & Associates LLP, Chartered Accountants, as its new Statutory Auditor for a five-year term starting from FY 2025-26 through FY 2029-30. The change comes because the existing auditor, M/s M. A. Parekh & Associates, has completed its term. The appointment is based on the Audit Committee's recommendation and still needs shareholder approval at the upcoming Annual General Meeting. The new audit firm offers a wide range of professional services including assurance, tax consultancy, risk advisory, and corporate finance across India.
This is a routine auditor rotation at the end of a term, not a mid-term exit. It is a standard corporate governance practice required by regulations and is unlikely to have any material impact on the stock price or shareholder value.