TeleCanor Global Limited has initiated the process to remove its statutory auditors, M/s. K.K. Goel & Co., citing continued non-cooperation and failure to provide necessary support. This decision, approved by the Board of Directors, is a step towards ensuring statutory and regulatory compliance. The company will file Form ADT-2 with the Regional Director and seek shareholder approval via a Special Resolution. Non-compliance has already led to fines, including ₹5,000 per day for pending compliances.
TeleCanor Global to Remove Statutory Auditors
TeleCanor Global Limited has formally begun the process to remove its statutory auditors, M/s. K.K. Goel & Co. (FRN 005299N). The decision, unanimously approved by the Board of Directors during a meeting on September 10, 2026, stems from the auditors’ alleged continued non-cooperation and failure to provide essential support and information required for the company’s statutory and regulatory compliances.
Formal Process Underway
In continuation of the Board’s deliberations, the initiation of the removal process has been approved in accordance with Section 140(1) of the Companies Act, 2013. TeleCanor Global will submit an application in Form ADT-2 to the Regional Director within the prescribed timeline to seek approval for the auditor’s removal. Following the Regional Director’s approval, a General Meeting will be convened to obtain shareholder consent through a Special Resolution. Subsequently, the company will complete the necessary filings with the Registrar of Companies/MCA.
Impact of Non-Cooperation
The Board noted the ongoing difficulties arising from the auditors’ non-cooperation, which has consequently impacted the company’s timely statutory and regulatory compliances. This has resulted in the levy and increase of fines by the Stock Exchange, including penalties of ₹5,000 per day, relating to pending compliances and results for the quarters ended June 2026 and March 2026.
Further Actions
In light of these circumstances, the Directors have been authorized to initiate appropriate complaints and proceedings before the Registrar of Companies, Regional Director/MCA, the Institute of Chartered Accountants of India (ICAI), and other relevant authorities. TeleCanor Global reserves its right to pursue other legal remedies available under applicable law.
Disclosure Requirements
The company will communicate these decisions and its proposed course of action to the Statutory Auditors, providing them with the necessary statutory notices. Further developments will be intimated to the Stock Exchange as per SEBI (LODR) Regulations, 2015. Details required under Regulation 30 of the SEBI Listing Regulations are enclosed as Annexure-I.
Source: BSE
