KIRLOSKAR OIL ENGINES LIMITED has informed the Exchange about Resignation of Statutory Auditor
KIRLOSENG · price
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G. D. Apte & Co., Chartered Accountants, has resigned as Statutory Auditor of Arka Financial Holdings Private Limited (AFHPL), a material subsidiary of Kirloskar Oil Engines, effective 6th August 2025. The reason is regulatory: G. D. Apte already audits 8 RBI-regulated NBFCs, and AFHPL has applied for registration as a Core Investment Company (CIC) with the RBI, which would make it a 9th NBFC and breach RBI's limit of 8 NBFCs per audit firm. AFHPL was originally reappointed with G. D. Apte until 2029, so this is a mid-term exit driven purely by compliance rules. To fill the casual vacancy, Sudit K. Parekh & Co. LLP has been appointed as the new Statutory Auditor of AFHPL for a 3-year term, subject to shareholder approval.
This is a routine, compliance-driven auditor change at a subsidiary level — not the parent company's auditor — and a replacement has already been lined up. Investors are unlikely to see any material impact on Kirloskar Oil Engines' stock price or operations.