Statutory Auditor Firm Converts from Partnership to Proprietorship; Audit Engagement Unchanged
Statutory auditor Rungta Agarwal and Associates (formerly Shanker and Kapani) has changed its legal constitution from a partnership firm to a proprietorship firm with effect from 9th September, 2026.
- Auditor Firm Conversion Date
- 9th September, 2026
- Previous Structure
- Partnership firm
- New Structure
- Proprietorship firm
- Continuing Proprietor
- CA Shivratan Krishnakumar Agarwal
- Auditor Appointment Term
- 41st AGM to 46th AGM (5 years)
What was shared
The company informed the exchanges that its statutory audit firm, Rungta Agarwal and Associates (formerly known as Shanker and Kapani), Chartered Accountants, has changed its legal constitution from a partnership firm to a proprietorship firm with effect from 9th September, 2026.
Why the change happened
- CA Pawan Kumar Rungta resigned as a partner of the firm.
- CA Shivratan Krishnakumar Agarwal, earlier a partner, will continue the audit practice as sole proprietor under the same firm name.
What stays the same
- Same Firm Registration Number is retained.
- Peer Review status remains unchanged.
- The auditor confirms the change does not constitute resignation of the statutory auditor, and there is no change in the audit engagement.
- The auditor states the conversion is in line with ICAI's accepted practice and guidelines.
Appointment term
The firm was appointed as statutory auditor at the 41st Annual General Meeting held on September 30, 2022 for a period of 5 years, from the conclusion of that AGM until the conclusion of the 46th Annual General Meeting.
Next step
The intimation will be placed before the Audit Committee and the Board of Directors for consideration and necessary compliance under the Companies Act, 2013 and the Listing Regulations.
How to read it
This is an administrative and procedural update about the auditor's own firm structure rather than a change of auditor. The continuity of the audit engagement, FRN and Peer Review status has been confirmed by the audit firm.
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More numbers
- Auditor appointment term5 years
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