Auditor4 Nov 2026, 06:41 pm
Popular Mega Motors Subsidiary Auditor Resigns
AI Summary
Popular Vehicles and Services Ltd announced the resignation of M/s R.G.N. Price & Co. as the statutory auditor of its wholly-owned material subsidiary, Popular Mega Motors (India) Private Limited (PMMIL). The resignation is effective November 3, 2026, and is due to the rotation of statutory auditors at the holding company level, with a proposal to align the audit of the subsidiary with the parent. The resigning auditors have not raised any concerns regarding the management, and no Audit Committee deliberation is required. The company has confirmed that the information provided is correct and complete, with no other material reasons for the resignation.
Key Highlights
- Statutory auditor of subsidiary Popular Mega Motors (India) Private Limited resigns.
- Resignation is due to auditor rotation at the holding company level.
- Audit alignment between parent and subsidiary is the stated reason.
- No concerns raised by the resigning auditors regarding management.
- Audit Committee deliberation not required due to lack of concerns.
Price Impact
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