Announced Wed, 5 Aug · 13:05 IST
Statutory Auditor Resigns Citing Low Audit Fees
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve
Awaiting price reaction for this filing.
AI summary
Terraform Magnum Ltd's statutory auditor J. D. Zatakia and Co resigned effective August 4, 2026. The firm was appointed in September 2024 for a five-year term covering FY2024-25 to FY2028-29, making this a mid-term exit. Reason cited: existing audit fees are not commensurate with the time and effort required. The company must now appoint a new statutory auditor.
Likely market impact
Minor governance event. Reason is fee-related, not fraud-related. Company must appoint a replacement auditor soon.