The Grob Tea Company Limited has informed the Exchange about Resignation of Statutory Auditor
GROBTEA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Balkrishna Singhania has resigned as Independent Director of the company effective from close of business hours on 13th May 2026 due to personal reasons and other commitments. He also resigned from all Board Committees of which he was a member/chairperson. Separately, GARV & Associates has resigned as Statutory Auditors mid-term (appointed in August 2022 for a 5-year term ending 2027), citing that audit fees are not commensurate with the time and effort required, particularly due to entity acquisitions by the company. The company has appointed M/s. B. Nath & Company as the new Statutory Auditor, along with two new Independent Directors (Mr. Kishan Kejriwal and Ms. Nidhi Shah) and re-appointed Mr. Pradeep Kumar Agarwal as Managing Director.
The dual resignation of an independent director and the statutory auditor mid-term signals potential governance concerns. The auditor's resignation citing fee disputes related to company acquisitions may indicate underlying operational complexity or financial disagreements that investors should monitor.