Statutory auditor of material subsidiary resigns; parent's group auditor proposed
Statutory auditor of Suyog Urja Ltd, material subsidiary of Enviro Infra Engineers, Nikunj Raichura & Associates, resigned effective 04.11.2026 at the company's request to align audits with the parent group.
By ScoutQuest · · 2 min read
- Resignation Effective Date
- November 04, 2026
- Outgoing Statutory Auditor
- M/s Nikunj Raichura & Associates (Firm Registration Number: 158531W)
- Original Appointment Tenure
- with effect from 30.09.2025 for a period of 5 years, from 2025-26 till the conclusion of the AGM to be held in F.Y. 2030-31
What happened
- M/s Nikunj Raichura & Associates (Firm Registration Number: 158531W) has resigned as the statutory auditor of Suyog Urja Limited, a material subsidiary of Enviro Infra Engineers Limited.
- The resignation took effect from November 04, 2026. The company informed the exchanges on 5th November, 2026.
Why the auditor stepped down
- The firm said the company requested the resignation through a communication dated 02 November 2026.
- The stated reason is a recent change in management and the company's decision to align Suyog Urja's audit and financial reporting framework with that of its parent company and the larger group.
- The company proposes to appoint the parent company's existing Group Auditor as the subsidiary's statutory auditor, to bring greater synergy in the audit approach, uniformity in accounting and reporting practices, and efficient consolidation of financial statements at the parent level.
What the auditor and the committees said
- The auditor confirmed that the resignation is solely on account of the management request and the proposed alignment, and is not attributable to any concerns regarding its professional conduct or performance.
- The Audit Committee of Suyog Urja Limited and the Audit Committee of the company took note of the resignation and the auditor's disclosure, and noted that no concerns were raised in relation to the resignation.
Tenure so far
- The firm was appointed with effect from 30.09.2025 for a period of 5 years, from 2025-26 till the conclusion of the Annual General Meeting to be held in F.Y. 2030-31.
- Its latest limited review report, for the quarter and half year ended September 30, 2026, was issued on November 03, 2026.
How to read this
- An auditor's exit from a material subsidiary is a disclosure investors generally track closely, since the auditor's reasons and any stated concerns are the main things to check.
- Here, the update attributes the exit to a group-level realignment of auditors, with the incoming auditor proposed to be the parent company's existing Group Auditor.
- The disclosure states that the outgoing auditor raised no concerns and that both audit committees recorded the same.
Also from Enviro Infra Engineers
Q2 FY27: revenue up 60.01% YoY, PAT down 20.22%; order book at ₹67,782 million
5 Nov 2026
Step-down subsidiary incorporates Windaxis Renewables as a wholly owned subsidiary
5 Nov 2026
Board approves unaudited Q2 and H1 results; auditors issue unmodified review conclusion
5 Nov 2026
More numbers
- Term for which the auditor was appointed5 year
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