Rail Vikas Nigam Limited Board Approves Cost Auditor Appointment, Subsidiary Closure, and Internal Audit Extension
Rail Vikas Nigam Limited (RVNL) announced several key operational decisions following its Board Meeting held on July 25, 2026. The outcomes approved by the Board included the appointment of a new Cost Auditor for the financial year 2026-27, the closure of a wholly owned subsidiary in South Africa, and an extension for the internal audit contract.M/s R.M. Bansal & Co., Cost Accountants, were appointed as the Cost Auditor of RVNL for the financial year 2026-27. The Board meeting confirmed this appointment, which was effective as of July 25, 2026.
RVNL also approved the closure of its wholly owned subsidiary in South Africa, identified as "RVNL Infra South Africa." Furthermore, the company extended the contract for M/s Ravi Rajan & Co. LLP, Chartered Accountants, who serve as the Internal Auditor, granting them an additional six months of service up to September 30, 2026.
Details of New Cost Auditor
The appointed firm, M/s R.M. Bansal & Co., is noted for its experience and geographical reach. The details regarding the firm's profile are as follows:| Particulars | Details of Information |
|---|---|
| Role Approved For | Appointment of Cost Auditor for the financial year 2026-27. |
| Date of Appointment | July 25, 2026 |
| Term of Appointment | Board approved the appointment for the financial year 2026-27. |
| Firm Profile | M/s R.M. Bansal & Co. has 12 partners and offices across various locations including Kanpur, Lucknow, New Delhi, Mumbai, Bangalore, Chennai, Kolkata, Hyderabad, Thiruvananthapuram, Bhubaneswar, Dehradun, and Bilaspur. They possess 50 years of experience, including 34 years as a practicing firm of Cost Accountants since July 12, 1990, and 17 years in individual capacity since 1974. |
| Disclosure of Relationships | Not Applicable (NA) |
RVNL Stock Price Movement
On Friday, shares of Rail Vikas Nigam Limited edged slightly higher to close at ₹224.53, registering a 0.16% gain. Despite this minor rally, the stock remains fragile, having plummeted to its 52-week low and trading on a volume of 5.20 million shares.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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