RHI Magnesita India Limited has informed stakeholders about the intention of Price Waterhouse Chartered Accountant LLP to resign as its Statutory Auditor. This move, also affecting its subsidiary RHI Magnesita India Refractories Limited, is aimed at aligning the auditor with the Ultimate Holding Company, RHI Magnesita N.V. The company stated that detailed disclosures will be provided once signed resignation letters are received, pending approvals.
Auditor Resignation Notification
RHI Magnesita India Limited has issued a disclosure regarding the intended resignation of its Statutory Auditor, Price Waterhouse Chartered Accountant LLP. This development also pertains to the company’s wholly-owned material subsidiary, RHI Magnesita India Refractories Limited. The company has indicated that the primary reason for this change is to align the statutory auditor with the Ultimate Holding Company, RHI Magnesita N.V., subject to the necessary approvals.
Next Steps and Future Disclosures
The company plans to provide detailed disclosures as mandated by the Listing Regulations and relevant circulars. These disclosures will be submitted in due course, following the receipt of signed resignation letters from the Statutory Auditor. RHI Magnesita India Limited has also confirmed that this intimation is being uploaded to the company’s official website for public access.
Source: BSE
