Intimation of resignation of Statutory Auditor of Ramkrishna Titagarh Rail Wheels Limited, a material subsidiary of the Company.
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S.R. Batliboi & Co. LLP has resigned as the statutory auditor of Ramkrishna Titagarh Rail Wheels Limited (RTRWL), a material subsidiary of Ramkrishna Forgings Ltd, effective May 12, 2026. The resignation stems from an independence conflict: RTRWL has become material to joint venturer Titagarh Rail Systems Limited (TRSL), and S.R. Batliboi currently provides non-audit services to TRSL, creating an independence issue for TRSL's consolidated financial reporting. The auditor had completed the FY2026 statutory audit (report dated April 30, 2026) but resigned before commencing the FY2027 audit. The filing explicitly states no concerns were raised by the auditor regarding management or the audit process. The company has not yet appointed a replacement auditor.
While the resignation appears to be driven by regulatory independence requirements rather than disputes, it creates an urgency to appoint a new auditor for the subsidiary. The clean no-concern declaration may provide some comfort, but mid-term auditor changes typically warrant monitoring for any follow-up disclosures.