Eswara Rao & Co. cited unforeseen circumstances and commitments to other assignments as the reasons for its resignation, just 18 days after taking up the role.
Auditor Resignation and Reasons
According to the company's filing, Eswara Rao & Co., Chartered Accountants, stepped down from its position as statutory auditor due to unforeseen circumstances and pre-occupation with other professional assignments.
The firm confirmed that it had not started any audit or limited review work during its brief tenure.
Key Details of the Resignation
- Resignation Date: October 28, 2026
- Appointment Date: October 10, 2026, to fill the casual vacancy created by the resignation of Vasavi & Co.
- Reason for Resignation: Unforeseen circumstances and commitments to other assignments
- Audit Status: No audit or limited review work had commenced before the resignation
- Pending Review: The limited review for the quarter ended September 30, 2026, had not been initiated by the resigning auditor
- Next Steps: The company will need to take the necessary steps to appoint a replacement auditor in accordance with applicable regulatory requirements
What to Watch Next
Investors will watch for an announcement from Transgene Biotek regarding the appointment of a new statutory auditor and the status of the pending quarterly financial review.
Disclaimer
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