RITES Limited has informed the Exchange about appointment of Statutory Auditors by Comptroller & Auditor General of India for the Financial Year 2025-26
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RITES Limited, a public sector undertaking under the Ministry of Railways, has informed the stock exchange that the Comptroller and Auditor General of India (CAG) has appointed the Statutory Auditors for the financial year 2025-26. For government companies, the appointment of statutory auditors is carried out by the CAG as per the Companies Act, and the company's board has no role in selecting the auditor. This is a routine annual disclosure required from listed PSUs. No details about which audit firm has been appointed were included in the headline.
This is a routine regulatory filing with no material impact on the stock. Routine auditor appointments by the CAG are standard practice for public sector companies and do not affect shareholder value.