Simbhaoli Sugars Limited has informed the Exchange regarding Resignation of MSKA & Associates LLP as Statutory Auditor of the Simbhaoli Power Private Limited (Subsidiary Company of Simbhaoli Sugars Limited)
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Simbhaoli Sugars Limited has informed the Exchange that MSKA & Associates LLP has resigned as the Statutory Auditor of Simbhaoli Power Private Limited, which is a wholly-owned subsidiary of Simbhaoli Sugars Limited. The resignation pertains only to the subsidiary entity and not to the parent company. No reason for the resignation has been mentioned in the announcement. The company will need to appoint a new statutory auditor for the subsidiary to fill the vacancy.
Auditor changes at a subsidiary level are routine but may raise minor governance questions if the reason for resignation is not disclosed. Investors should watch for any further disclosures regarding the cause and whether the parent's audit remains unaffected.