Pursuant to Regulation 30 of SEBI (LODR), Regulations, 2015, the Company wish to inform you that the Resolution Professional upon approval of Committee of Creditors has appointed Kumar ....
Awaiting price reaction for this filing.
CMI Ltd has disclosed that its Resolution Professional (RP), appointed by NCLT after admitting Canara Bank's insolvency petition under Section 7 of the IBC, 2016, has appointed M/s. Kumar Pramod & Associates, Chartered Accountants, as the company's statutory auditors. The appointment covers the financial years ending 31 March 2026, 2027, and 2028. The firm, established in 1992, has experience in audit, taxation, forensic audit, and insolvency assignments, having worked with PSUs, government bodies, and nationalised banks. The board of directors' powers remain suspended, with the RP acting on behalf of the company.
CMI Ltd remains under corporate insolvency proceedings following NCLT admission. The appointment of a new auditor by the RP is a procedural step in the CIRP but highlights that the company is not in normal operations. Shareholders should brace for further updates on the resolution plan process.