Auditor29 May 2026, 06:53 pm
GFCL EV Products Auditor Resigns Due to Shareholder Agreement
AI Summary
Patankar & Associates resigned as statutory auditors of GFCL EV Products Limited, a material subsidiary of Gujarat Fluorochemicals Ltd, effective from the conclusion of the upcoming AGM. The resignation is due to a Shareholder Agreement requiring the appointment of a 'Big Five' accounting firm. Walker Chandiok & Co LLP is proposed as the new auditor, subject to approvals. Patankar & Associates were appointed on September 25, 2022, and completed the FY26 audit with an unmodified report dated May 25, 2026.
Key Highlights
- Patankar & Associates resigns as statutory auditor of GFCL EV Products Ltd.
- Resignation effective after the upcoming Annual General Meeting.
- Shareholder Agreement mandates a 'Big Five' accounting firm as auditor.
- Walker Chandiok & Co LLP proposed as the new statutory auditor.
- No other reasons cited for the resignation.
Price Impact
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