Kaynes Technology has issued a clarification regarding recent news reports suggesting a change in auditors. The company confirms that no negotiations are currently underway to replace the statutory auditors, and no such decisions are under consideration. The reports were based on a misinterpretation of management’s remarks during a media interaction. Kaynes Technology periodically evaluates opportunities for strengthening professional collaboration, but there has been no formal proposal or decision regarding auditor changes.
Response to Media Reports
Kaynes Technology addresses recent media reports concerning a potential change in its statutory auditors. The company clarifies that these reports stemmed from an incorrect interpretation of remarks made by management during a media interaction.
No Active Negotiations
Kaynes Technology explicitly states that no negotiations are taking place regarding the replacement of its current statutory auditors. Consequently, there is no timeline or chronology of events to report. While the company routinely assesses opportunities to enhance professional collaboration, these evaluations do not equate to active negotiations or planned auditor changes.
Auditor Status
The company emphasizes that there has been no discussion, decision, or proposal presented to the Board or the Audit Committee concerning a change in statutory auditors. The existing auditors will continue in their role, in accordance with their approved tenure.
Impact Assessment
Kaynes Technology asserts that the media article has no material impact on the company. Since no auditor change is planned or under active consideration, the report does not affect company operations or financial standing.
Source: BSE
