Auditor3 Jul 2026, 12:19 pm
Procal Electronics India Ltd Statutory Auditor Resigns
AI Summary
Procal Electronics India Limited announced that its Statutory Auditor, M/s. PAMS & Associates, Chartered Accountants, has resigned effective June 12, 2026. The resignation is attributed to geographical constraints, as the auditor's firm is based in Bhubaneswar while the company operates in Mumbai. The closure of the auditor's Mumbai branch in 2024 made it challenging to manage audit requirements for a listed entity. The Board of Directors has accepted the resignation and is in the process of appointing a new Statutory Auditor.
Key Highlights
- Statutory Auditor PAMS & Associates resigns effective June 12, 2026.
- Resignation due to geographical distance and operational challenges.
- Company is actively seeking a new Statutory Auditor.
- No unresolved issues or qualifications cited by the resigning auditor.
Price Impact
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