Kirloskar Oil Engines Limited has informed the Exchange regarding Change in Auditors of the company.
KIRLOSENG · price
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Kirloskar Oil Engines has informed the exchange that G. D. Apte & Co. has resigned as Statutory Auditors of its material subsidiary, Arka Financial Holdings Private Limited (AFHPL), effective August 6, 2025. The resignation is driven by an RBI regulatory cap: once AFHPL receives its registration as a Core Investment Company (CIC), it will be classified as an NBFC, and G. D. Apte & Co. already audits the maximum permitted eight NBFCs. To fill the casual vacancy, the board has approved the appointment of Sudit K. Parekh & Co. LLP as the new Statutory Auditors of AFHPL for a 3-year term, subject to shareholder approval. The change is at the subsidiary level, not the listed parent company, and the reason is purely regulatory, not related to any audit disagreement or governance concern.
This is a routine, compliance-driven auditor change at the subsidiary level and unlikely to affect Kirloskar Oil Engines' stock price. Shareholders should note that AFHPL is becoming an RBI-regulated NBFC, which adds a layer of regulatory oversight but also signals the subsidiary's growing financial-services footprint.