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.
The company experienced dual resignations on May 13-14, 2026. Independent Director Mr. Balkrishna Singhania resigned citing personal reasons and other commitments, effective from close of business on May 13, 2026, also stepping down from all Board committees. Separately, Statutory Auditors M/s GARV & Associates tendered their resignation, stating that audit fees were inadequate given the time and effort required due to entity acquisitions by the company. The firm had been appointed in August 2022 for a five-year term expiring at the 2027 AGM. Both resignations were followed by new appointments: M/s B. Nath & Company as new Statutory Auditors, two new Independent Directors (Mr. Kishan Kumar Kejriwal and Ms. Nidhi Shah), M/s A. R. MAITI & CO as Internal Auditor, and M/s Dipak Lal & Associates as Cost Auditors. The latest audit report for FY ended March 31, 2026 was submitted on May 13, 2026 prior to the auditor's resignation.
The simultaneous departure of an independent director and the statutory auditor, combined with the auditor's fee dispute citing company acquisitions, could raise governance concerns. The company has moved quickly to appoint replacements, but investors should monitor for any disruption in audit continuity or further governance changes.