Statutory auditor resigns mid-term; new auditor appointed to fill casual vacancy
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Board meeting on 3 July 2026 approved: (1) resignation of M/s S.Viswanathan LLP as Statutory Auditors, creating a casual vacancy; (2) appointment of M/s Senthil Kumar and Sundararajan as new Statutory Auditors for FY2026-27, subject to shareholder approval at the upcoming AGM; (3) M/s P.B.Vijayaraghavan & Co appointed as Internal Auditors for FY2026-27 replacing M/s Kalyanasundaram and Associates whose tenure ended; (4) revised AGM notice, Board Report and Annual Report for FY2025-26 approved. No reason disclosed for the statutory auditor exit.
Auditor switch mid-term without disclosed reasons can raise governance concerns and may weigh on sentiment until shareholders ratify the appointment at the AGM.