Auditor Resigns from S V Global Mill Ltd Amid Resource and Scale Challenges
S V Global Mill Limited has announced the resignation of its Statutory Auditor, M/s. S. Viswanathan LLP Chartered Accountants. The change, effective July 03, 2026, follows a decision by the auditing firm citing significant increases in professional effort and required resources for auditing a company of the mill's size.The Audit Committee and the Board of Directors of S V Global Mill Limited have taken note of the resignation and plan to recommend the appointment of a new Statutory Auditor, subject to shareholder approval.
M/s. S. Viswanathan LLP had been appointed as the Statutory Auditors for S V Global Mill Limited starting May 17, 2025. The term was originally scheduled to expire at the Annual General Meeting concerning the financial year (FY) 2028-29. Prior to tendering their resignation, the firm issued an Independent Audit report covering the Standalone and Consolidated Financial Statements for the year ended March 31, 2026, which was submitted on May 25, 2026.
The professional engagement was concluded due to increased challenges in deploying quality resources necessary to ensure a consistent audit procedure, considering the constantly dynamic environment of a listed company. The firm stated that its resignation did not result from an inability to obtain sufficient appropriate audit evidence, nor were there any other circumstances related to the resignation.
Key details regarding the relationship and departure are summarized below:
| Particular | Detail |
|---|---|
| Company | S V Global Mill Limited |
| Statutory Auditor | M/s. S. Viswanathan LLP Chartered Accountants |
| Date of Appointment | May 17, 2025 |
| Resignation Effective Date | July 03, 2026 |
| Prior Audit Report Issued | For year ended March 31, 2026 (Report date: May 25, 2026) |
| Reason for Resignation | Increased professional effort and resources required to audit a company of the stated size. |
Stock Price Movement
S V Global Mill Ltd shares settled at ₹141.95 on Wednesday, registering zero change as the market closed. The stock remained completely flat throughout the day, as its high and low both were locked at ₹141.95.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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