Announcement under Regulation 30 - Resignation of auditor
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 5.1 pts more than Nifty Microcap 250 and 6.5 pts more than its Power Generation peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
IND Renewable Energy Ltd informed the stock exchange that its statutory auditor, J D Shah Associates (Firm Reg. No. 109601W), resigned on February 14, 2025, well before the end of their scheduled term (which was to run until the 15th AGM in 2026 after being appointed on September 30, 2021 for 5 years). The auditor's resignation letter states no specific concerns, no management-imposed limitations, and no material reasons beyond the general resignation. The Board, on the recommendation of the Audit Committee, has appointed M/s. K. S. Subrahmanyam & Co., Chartered Accountants (FRN: 017461S) as the new statutory auditor effective April 9, 2025, subject to shareholder approval at the upcoming AGM.
This is a mid-term auditor change roughly 1.5 years before the previous auditor's term was due to end, which investors should monitor. However, the outgoing auditor has explicitly stated no concerns or qualifications, and a replacement has already been lined up for shareholder approval, reducing near-term disruption.