Sagar Cements Limited has informed the Exchange regarding Change in Auditors of the company.
SAGCEM · price
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Sagar Cements Limited has informed the stock exchanges about a change in its Statutory Auditors. The Board of Directors, on the recommendation of the Audit Committee, approved the appointment of M/s. B S R & Co., Chartered Accountants (Firm Registration Number 128510W) as the new Statutory Auditors. The appointment is for a term of five consecutive years, starting from the conclusion of the 44th Annual General Meeting (AGM) and ending at the conclusion of the 49th AGM in 2030, subject to shareholder approval. The current auditors, M/s. Deloitte Haskins & Sells, will complete their term at the upcoming 44th AGM. B S R & Co. is a well-established firm constituted in 2007, with over 4,000 staff and 200+ partners, registered with the Institute of Chartered Accountants of India.
This is a routine, end-of-term rotation of statutory auditors and not a mid-term resignation, which is a standard corporate governance practice. Replacing Deloitte with B S R & Co., another reputable Big-affiliated firm, should be viewed as a neutral to positive development for governance and should not materially affect the stock price.