TIME TECHNOPLAST LIMITED has informed the Exchange about Resignation of Statutory Auditor
TIMETECHNO · price
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Khandelwal Jain & Co., one of the two Joint Statutory Auditors of Time Technoplast Limited, has resigned with immediate effect from Q2 FY2026 (August 11, 2025). The firm was appointed on August 12, 2024 for a 5-year term until 2029, making this a mid-term exit barely a year into the engagement. The reason cited is operational — under the work-sharing arrangement with the other joint auditor KPMR & Co., they had to visit 23–24 plants within a short window, which strained their resources given other client commitments. No concerns about management or financial statements were flagged, and the firm's last limited review report for Q1 FY26 (quarter ended June 30, 2025) was submitted on August 11, 2025.
Since KPMR & Co. continues as the other Joint Statutory Auditor, audit coverage is not disrupted and shareholders should not read this as a red flag on financials or governance. However, the company will need to appoint a new joint auditor, and the abrupt mid-term exit in a large manufacturing setup may be a minor governance point for institutional investors to track.