Clarification2 Nov 2026, 06:32 pm
Mitsu Chem Plast Clarifies Auditor Change Disclosure Delay
AI Summary
Mitsu Chem Plast Ltd has submitted a clarification to the stock exchange regarding the delayed disclosure of a change in the constitution of its statutory auditor. The company had informed about the conversion of its auditor, M/s. Gokhale & Sathe, Chartered Accountants, to M/s. Gokhale & Sathe LLP effective August 27, 2026, but failed to disclose this material event within the stipulated 24 hours. The delay was attributed to an inadvertently missed email. The company emphasized that there is no change in the statutory auditor itself, only in its legal structure. Mitsu Chem Plast has regretted the oversight and assured that internal monitoring mechanisms will be strengthened to prevent future lapses.
Key Highlights
- Clarification issued regarding delayed disclosure of auditor's constitutional change.
- Delay was inadvertent due to a missed email notification.
- No change in the actual statutory auditor or appointment tenure.
- Company structure changed from Chartered Accountants to LLP.
- Internal controls to be strengthened to ensure timely disclosures.
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