UNITED DRILLING TOOLS LIMITED has informed the Exchange about Resignation of Statutory Auditor
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United Drilling Tools Limited has informed the stock exchanges that M/s Sarupria Somani & Associates, Chartered Accountants (FRN: 010674C), has resigned as the company's Statutory Auditor with effect from July 23, 2025. The auditor cited the expiration of its peer review certificate issued by the ICAI's Peer Review Board and non-renewal of the same, which prevents it from continuing under SEBI LODR Regulation 33(1)(d). The firm was originally appointed at the 41st AGM on September 26, 2023 for a two-year term that was to end at the 43rd AGM in 2025. The company has stated that the auditor raised no concerns about management and that there is no other material reason for the resignation.
This is a technical/procedural resignation driven by the auditor's regulatory non-compliance (expired peer review), not by any dispute with the company. Shareholders should note that a new statutory auditor needs to be appointed soon and that the FY 2024-25 audit (already reported on May 29, 2025) is unaffected. Minimal impact on stock price is expected.