Resignation of Statutory Auditor
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Glen Industries Ltd's statutory auditors, M/s. S N Guha & Co, tendered their resignation effective May 21, 2026. The reason cited was the non-renewal of the firm's Peer Review Certificate, making them unable to continue for the financial year ending 31st March 2026. The Audit Committee reviewed the circumstances and accepted the resignation, noting that the outgoing auditors raised no concerns or issues. The Board immediately appointed M/s. Tosniwal & Associates as the replacement statutory auditor to fill the casual vacancy, subject to shareholder approval at the next general meeting. The new firm, based in Kolkata, is a professionally managed chartered accountancy firm providing audit, taxation, and advisory services.
The mid-term auditor change due to a peer review certificate lapse is routine, and since no concerns were raised by the outgoing firm, the event is unlikely to significantly impact the stock. However, shareholders should monitor the transition for any delays in financial reporting.