Intimation in regards with the appointment of Statutory auditor of the company
Awaiting price reaction for this filing.
Alps Industries has appointed M/s O. Aggarwal & Co. as its new Statutory Auditor on August 14, 2025, to fill the casual vacancy left by the resignation of the previous auditor M/s A S GOEL & Co. The new auditor will hold office for up to three months or until members approve the appointment at the next general meeting, whichever is earlier. A similar auditor change was made at its unlisted material subsidiary, Alps Energy Private Limited, where M/s R.K. Govil & Co. resigned and was replaced by M/s O. Aggarwal & Co. The decision was recommended by the Audit Committee under the chairmanship of Mr. Hemant Sharma, the Resolution Professional running the company under the IBC (Insolvency and Bankruptcy Code), 2016.
Two back-to-back auditor resignations in a short period — one at the listed entity and one at the material subsidiary — are a mild red flag for investors, even though the company is in active insolvency resolution. Shareholders should watch for any further disclosures on the reasons for the prior auditors' resignations and the outcome of the IBC process, as both directly affect the company's financial oversight.