Welspun Enterprises Limited has informed the Exchange regarding Resignation and Appointment of Statutory Auditors of Welspun EDAC JV Private Limited, the material subsidiary of the Company
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MGB & Co. LLP has resigned as the statutory auditor of two material subsidiaries of Welspun Enterprises — Welspun Michigan Engineers Limited and Welspun EDAC JV Private Limited — effective August 4, 2025. The resignation is voluntary and driven by the parent company recently changing its own statutory auditor; the subsidiaries want to align with the parent's auditor for consistency and operational synergies. MGB confirmed there are no other material concerns, no management-imposed limitations, and no disputes over information access. Suresh Surana & Associates LLP (SSA), part of RSM International, has been appointed as the new statutory auditor of both subsidiaries with immediate effect, with a recommended 5-year term until the FY2029-30 AGM. SSA is also the auditor of the parent company, Welspun Enterprises Limited.
This is a routine auditor realignment at the group level with no governance red flags — MGB explicitly stated there were no concerns, and the move brings audit consistency across the parent and its material subsidiaries. Minimal impact expected on the stock price; it is a housekeeping disclosure rather than a substantive event.