Sacheta Metals Limited announced the resignation of its Statutory Auditors, M/s. Murali & Venkat, Chartered Accountants. The resignation is effective from August 14, 2026. The company stated that the reason for the resignation is a disagreement over audit remuneration that could not be mutually agreed upon. No other material reasons were cited, and the auditors confirmed no concerns regarding management cooperation or accounting matters.
Statutory Auditors Resign
Sacheta Metals Limited has formally announced the resignation of its appointed Statutory Auditors, M/s. Murali & Venkat, Chartered Accountants. The resignation is effective from the close of business hours on August 14, 2026. This development follows a period of discussion regarding the audit remuneration.
Reason for Resignation
According to the auditors’ letter, the decision to resign stems from an inability to reach a mutually acceptable revised remuneration for the audit engagement. They cited an increase in the professional effort, partner and senior-level involvement, and resources required for conducting statutory audits and limited reviews for a listed entity. Despite communications and discussions with the management on August 4, 2026, a revised remuneration could not be agreed upon, leading to the resignation.
No Other Material Concerns
M/s. Murali & Venkat explicitly stated that apart from the fee and resource-alignment matter, there are no other material reasons for their resignation. They also confirmed that they have no concerns relating to management cooperation, availability of information, accounting matters, or the audit process that need to be brought to the attention of the Board of Directors.
Forward-Looking Statements
The auditors confirmed they have completed and submitted their limited review report for the quarter ended June 30, 2026, on July 25, 2026. They will be filing Form ADT-3 with the Registrar of Companies as per the prescribed period. Sacheta Metals Limited has been requested to take the resignation on record and arrange for the consequential statutory and regulatory compliances.
Information Provided
The disclosure includes details such as the name of the auditor, the reason for change (resignation), and the date of cessation. The auditors were appointed at the 35th Annual General Meeting held on September 6, 2025, to hold office until the conclusion of the 40th Annual General Meeting.
Source: BSE
