Based on the recommendation of the Audit Committee and the Board have considered and recommended to the members for their approval at the ensuing AGM the appointment of M/s B M S S and ....
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Tranway21 Technologies Ltd has recommended appointing M/s B M S S & Co, Chartered Accountants as the new Statutory Auditors, replacing the outgoing M/s Luharuka & Co. The change is due to the natural expiry of the current auditor's term at the 10th Annual General Meeting, not due to any dispute or resignation. The new firm will serve for 5 years, from the conclusion of the 10th AGM to the conclusion of the 15th AGM, subject to shareholder approval. B M S S & Co is a Mumbai-based firm with multiple partners having extensive experience in corporate and bank audits.
This is a routine auditor rotation as the previous auditor's term expired; no governance red flags. Shareholders will need to approve the appointment at the upcoming AGM, but the move is procedural and unlikely to materially affect the stock.