Auditor4 Nov 2026, 05:51 pm
Popular Vehicles Subsidiary Auditor Resigns
AI Summary
Popular Vehicles and Services Ltd announced that the statutory auditors of its wholly owned material subsidiary, Popular Mega Motors (India) Private Limited (PMMIL), M/s R.G.N. Price & Co., have resigned. The resignation is effective from November 3, 2026, and was received by the company on November 4, 2026. The reason cited is the rotation of statutory auditors of the holding company, Popular Vehicles and Services Limited, with a proposal to align the audit of PMMIL with that of the parent company. The resigning auditors have stated that they have no concerns with the management of the company, and no deliberation by the Audit Committee is required.
Key Highlights
- Statutory auditors of Popular Mega Motors (India) Private Limited resigned.
- Resignation is due to auditor rotation at the holding company level.
- Audit of subsidiary to be aligned with the parent company's auditor.
- Resigning auditors have no concerns with company management.
Price Impact
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