The Grob Tea Company Limited has informed the Exchange regarding Change in Auditors of the company.
GROBTEA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The Grob Tea Company Limited held a Board meeting on 13 May 2026 where multiple key decisions were made. The company's statutory auditor, M/s G A R V & Associates, tendered resignation citing fees not commensurate with the increased audit workload due to entity acquisitions. M/s B Nath & Company was appointed as the new statutory auditor. Additionally, Mr. Balkrishna Singhania resigned as Independent Director citing personal reasons and other commitments. The Board approved the audited financial results for Q4 and FY 2025-26 with an unmodified opinion and declared a dividend of Rs. 2 per share. Two new Additional Non-Executive Independent Directors, Mr. Kishan Kejriwal and Mrs. Nidhi Shah, were appointed, and Mr. Pradeep Kumar Agarwal was re-appointed as Managing Director for 3 years with increased remuneration. The board also approved material related party transactions with Banka Enterprises Private Limited and KL Support Private Limited (up to Rs. 5 crore each).
The mid-term resignation of the statutory auditor due to fee disputes, combined with the resignation of an independent director, signals potential governance concerns. However, the quick appointment of a replacement auditor and two new independent directors demonstrates board stability. The dividend declaration and clean audit report are positive signals for shareholders.