The South Indian Bank Limited has informed the Exchange regarding Change in Auditors of the company.
SOUTHBANK · price
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South Indian Bank has appointed M/s Borkar and Muzumdar, Chartered Accountants as its new Joint Statutory Central Auditor for a 3-year term, starting from the conclusion of the 97th AGM held on August 20, 2025 until the 100th AGM in FY 2027-28. The appointment is subject to RBI's annual approval. M/s Borkar and Muzumdar replaces M/s K Venkatachalam Aiyer & Co, who retired after completing their existing term. The new auditor will serve alongside the existing joint auditor M/s M P Chitale & Co. Borkar and Muzumdar is a well-established firm with over 75 years of experience, 18 partners, and 230+ staff, and already audits several public and private sector banks.
This is a routine auditor rotation following the completion of the previous auditor's term, with no governance red flags. Shareholders should note the change is subject to RBI's annual approval, but the appointment of an experienced audit firm alongside the existing auditor maintains continuity in financial oversight.