Shalimar Paints Statutory Auditors Resign Due to Share Swap

Shalimar Paints Limited announced the resignation of its statutory auditors, M/s. Walker Chandiok & Co. LLP, effective November 11, 2026. The auditors cited their inability to provide adequate group audit coverage following Shalimar Paints' proposed share swap transaction with Hella Infra Market Limited, which would make Shalimar Paints the holding company. The auditors confirmed they had completed the Limited Review Report for the quarter ended September 30, 2026, and there were no concerns raised regarding the company's management. The resignation will be placed before the Audit Committee and the Board of Directors for noting.