Geekay Wires Limited has informed the Exchange regarding Change in Auditors of the company.
GEEKAYWIRE · price
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Geekay Wires Limited has announced the resignation of its statutory auditor M/s M.M. Palod & Co, effective May 28, 2026. The auditor cited the impending completion of the maximum permissible audit tenure under the Companies Act, 2013 (September 2026) and the company's plan to appoint a new auditor for rotation requirements as reasons for resignation. M.M. Palod & Co had been serving since September 2021 (appointed at the 32nd AGM). The firm confirmed it completed and issued the Independent Auditor's Report for FY ended March 31, 2026. Importantly, the auditor explicitly stated there are no concerns, disputes, or limitations on audit scope that require attention. This appears to be a routine mandatory rotation rather than a contentious departure.
This is a standard auditor rotation driven by regulatory compliance under the Companies Act, 2013. Since no concerns or disputes were raised by the outgoing auditor, this change is unlikely to have any negative impact on the company's stock. Investors should monitor for the appointment of the new auditor in due course.