Intimation of Resignation of Statutory Auditor
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
SRU Steels Limited's statutory auditor, M/s TCS & Co. (Firm Reg. No. 145920W), has resigned with immediate effect from close of business hours on 14 February 2026. The auditor had only been appointed on 25 September 2025, with a five-year term running until 31 March 2030, making this a mid-term exit barely five months into the engagement. TCS & Co. cited the company not providing the required books of account, records, and information needed to complete the limited review for the December 2025 quarter even by 12:30 PM on 13 February, just hours before the scheduled results date. The auditor's resignation letter also explicitly flags 'continuous non-co-operation from the management.' The resignation letter confirms the information block was a management-imposed limitation and that no previous financial reports were similarly affected.
This is a significant negative governance signal. A statutory auditor walking out mid-term citing management non-cooperation raises serious red flags about disclosure practices and internal controls. Investors should expect a delay in Q3 FY26 results, regulatory scrutiny, and likely negative short-term price action. The company also has the same individual (Akhil Arora) holding both Managing Director and CFO roles, which compounds the governance concern.