Shareholders Approve New Statutory Auditors and Independent Director at 36th AGM
T R Chadha & Co LLP as Statutory Auditors for 5 years (till the 41st AGM).
- Statutory Auditor Appointment
- T R Chadha & Co LLP appointed for 5 years till 41st AGM
- Auditor Tenure
- From conclusion of 36th AGM till conclusion of 41st AGM
- Independent Director Appointment
- Sudeep Saxena (DIN: 09199917) appointed for 2 years
- Director Term Period
- 13 August 2026 to 12 August 2028
- Previous Auditor Resignation
- M Sahu & Co resigned effective 15 August 2026
What was approved
The company informed BSE that shareholders at the 36th Annual General Meeting held on Friday, 25 September 2026 approved three resolutions.
- Appointment of T R Chadha & Co LLP, Chartered Accountants, as Statutory Auditors for a term of five years, from the conclusion of the 36th AGM till the conclusion of the 41st AGM.
- Appointment of the same firm to fill the casual vacancy caused by the resignation of M Sahu & Co, Chartered Accountants, effective 15 August 2026 and running till the conclusion of the 36th AGM.
- Appointment of Mr. Sudeep Saxena as Director (Non-Executive & Independent) for a first term of two consecutive years, with effect from 13 August 2026 till 12 August 2028, not liable to retire by rotation.
About the auditor
T R Chadha & Co LLP was established in 1946 and has over 80 years of experience in Audit & Assurance, Taxation, Risk Management, Advisory and Consulting, with a presence across multiple cities in India and Abu Dhabi. It is registered with PCAOB and empanelled with bodies including SEBI, RBI, CAG, IBA, IRDAI, PFRDA, NSE and BSE, with experience auditing listed companies and large corporates in manufacturing, industrial, infrastructure and financial services.
About the new director
Mr. Saxena is a senior banking professional with over 37 years of experience across banking, housing finance, corporate banking, trade finance, risk management and regulatory compliance. He has held senior positions at Axis Bank (including Group Head – Corporate Banking) and State Bank of Patiala, and is presently a Principal Consultant in Banking and an Independent Director. He holds a B.Sc. and LL.B. from Delhi University, is a Certified Independent Director under the Ministry of Corporate Affairs and a CAIIB.
The update states he is not related to other directors.
How to read it
These are governance items confirming board and audit arrangements. The change of statutory auditor followed the resignation of the previous firm, with the new firm first filling the casual vacancy and then being confirmed by shareholders for a full five-year term.
More numbers
- Statutory auditor termfive years
- Independent director term2 (Two) years
- Audit firm experienceover 80 years
- Director's banking experienceover 37 years
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