Gensol Engineering Limited has informed the Exchange regarding Change in Auditors of the company.
GENSOL · price
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Gensol Engineering Limited has disclosed the appointment of M/s. Jatin Gupta & Associates, Practicing Company Secretaries, as the Secretarial Auditor for FY 2024-25 and period thereafter. The company is currently under Corporate Insolvency Resolution Process (CIRP) following an NCLT order, with Mr. Keshav Khaneja serving as Resolution Professional since the Board of Directors' powers are suspended. The appointment is made under Regulation 24A of SEBI LODR and Section 204 of the Companies Act, 2013. This is a disclosure requirement under SEBI listing regulations and does not indicate any change in statutory/financial auditors.
The appointment of a secretarial auditor is a routine compliance requirement during insolvency and does not directly impact shareholder value. However, the company remaining under CIRP continues to signal financial distress and uncertainty for investors.