Lumax Auto Technologies Limited has informed the Exchange regarding S.R. Batliboi & Co. LLP, Chartered Accountants (Firm Registration No: 301003E/E300005) have tendered their resignation as the Statutory Auditors of IAC International Automotive India Private Limited (formerly known as Lumax Integrated Ventures Private Limited), a material subsidiary of the Company, with immediate effect from August 12, 2025
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S.R. Batliboi & Co. LLP, Chartered Accountants, have resigned as the Statutory Auditors of IAC International Automotive India Private Limited (formerly Lumax Integrated Ventures Private Limited), a material subsidiary of Lumax Auto Technologies, effective August 12, 2025. S.R. Batliboi had been appointed in September 2024 for a 4-year term, so this is a midterm exit, about 11 months into the term. The reason cited is the subsidiary management's decision to align its statutory auditor with the holding company's (Lumax Auto Technologies') auditor. The auditor confirmed there are no concerns, no disputes, no limitations in obtaining information, and no other material reasons for stepping down.
This is a routine auditor realignment rather than a red flag — the auditor explicitly stated no governance or audit-quality concerns. Shareholders should note the subsidiary will need a new auditor aligned with the parent company, but the immediate impact on the stock is likely neutral.