Hindalco Industries announced its intention to appoint SRBC & Co LLP (“SRBC”) as the company’s new Statutory Auditors, effective from the conclusion of the Annual General Meeting (AGM) to be held in FY28. This planned rotation follows the completion of the current auditor’s (Price Waterhouse & Co Chartered Accountants LLP) second term, as mandated by the Companies Act, 2013. The appointment is subject to all requisite regulatory compliance, including auditor independence checks.
Planned Statutory Auditor Appointment
Hindalco Industries Limited has formally communicated its intention regarding the appointment of its Statutory Auditors. The company is planning to appoint SRBC & Co LLP (“SRBC”) to take over the role of Statutory Auditors starting from the conclusion of the Annual General Meeting (AGM) scheduled to be held in FY28.
Rationale for Auditor Rotation
This intended change is necessitated by regulatory requirements under the Companies Act, 2013. The existing Statutory Auditors, Price Waterhouse & Co Chartered Accountants LLP, will complete their mandated second term as auditors of the Company at the AGM scheduled for FY28. Consequently, the company is required to appoint a new Statutory Auditor.
Compliance and Next Steps
The proposed appointment of SRBC & Co LLP is conditional upon the successful completion of all necessary regulatory compliances. This specifically includes adherence to auditor independence requirements for both the Company and its subsidiaries, as dictated by laws and regulations applicable in India and other relevant jurisdictions. This information has been duly filed with the stock exchanges (BSE, NSE, and Luxembourg Stock Exchange) and is available on the Company’s website.
Source: BSE
