Announced Thu, 6 Aug · 18:17 IST
Statutory auditor resigns mid-term citing low pay
Price
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Price reaction · full curve 14 horizons · vs prior close
-0.3%1-day move
₹10.85
prior close
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base price
After-mkt
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————-0.3-5.3-10.0-9.7—-5.2-6.7+24.7——
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AI summary
Statutory auditor Prakash Tekwani and Associates resigned effective 6 August 2026, roughly three years before their term was to end at the 34th AGM in 2029. The firm said the audit fees were not commercially viable for the work involved. No reportable concerns were raised and no communication was made to the Audit Committee before quitting. The company must now appoint a new auditor.
Likely market impact
Mid-term auditor exit on fee grounds, no concerns flagged. Company must appoint a replacement quickly to avoid audit gaps.