REAPPOINTMENT OF INTERNAL AUDITOR OF COMPANY.
Awaiting price reaction for this filing.
Alps Industries has re-appointed Mr. Ajay Gupta as Internal Auditor for the financial year 2026-27, effective April 1, 2026. Mr. Gupta is already serving as the Company's Secretary and Assistant Vice President – Legal. The Board approved the re-appointment at its meeting on March 20, 2026, under Section 138 of the Companies Act, 2013. Mr. Gupta is a Commerce Graduate and Company Secretary with over 28 years of experience in accounting, company law, and internal audits. He will lead the internal audit with a team of experienced officials.
This is a routine re-appointment with no change in leadership. However, shareholders may note that the same person holds both the Company Secretary and Internal Auditor roles, which some investors view as a potential governance weakness since the two functions are typically kept separate for independent checks.