Resignation of Statutory Auditor of the Company upon completion of their tenure
Awaiting price reaction for this filing.
M/s. KVA & Company, Chartered Accountants has stepped down as Statutory Auditor of Videocon Industries Ltd, effective September 5, 2025. The firm was appointed on June 27, 2022, and its term was scheduled to end at the conclusion of the 34th Annual General Meeting for FY ending March 31, 2024. The resignation has been submitted upon completion of its audit tenure, with no other material reasons cited. The company, which remains under the Corporate Insolvency Resolution Process (CIRP) since 2018, is led by Resolution Professional Abhijit Guhathakurta. The auditor confirmed there were no concerns, no inability to obtain information, and no impact on prior financial statements.
This is a routine, tenure-based exit of the statutory auditor with no governance red flags, so it should not materially affect shareholders or the stock price. The company will need to appoint a new statutory auditor to ensure continued audit compliance, particularly relevant given its ongoing insolvency process.