Statutory Auditor Resigns for Key Subsidiary of Tube Investments of India Ltd
Tube Investments of India Ltd has announced the resignation of its statutory auditors concerning one of its material subsidiaries, Tl Clean Mobility Private Limited. The change is being implemented to establish a common auditor across the group, ensuring uniformity in audit processes and procedures during financial finalization.M/s Sundaram & Srinivasan, Chartered Accountants (Firm Registration No: 0042075), have tendered their resignation as Statutory Auditors of Tl Clean Mobility Private Limited (TICMPL). The resignation is effective from the conclusion of TICMPL's 5th Annual General Meeting (AGM), which was held on July 30, 2026.
According to details provided, the decision to change auditors across the group necessitated the cessation of M/s Sundaram & Srinivasan as statutory auditors for TICMPL. The appointment was originally made on June 24, 2022, with the term scheduled to expire upon the conclusion of the company's sixth AGM in 2027.
The resignation is linked to a proposed change in auditors across the group, which includes the appointment of a new statutory auditor for the holding company and its other subsidiaries, emphasizing the need for a common audit firm.
Key details regarding this operational transition are as follows:
| Detail | Information |
|---|---|
| Material Subsidiary | Tl Clean Mobility Private Limited (TICMPL) |
| Former Statutory Auditor | Sundaram & Srinivasan, Chartered Accountants |
| Date of Resignation Effectivity | Conclusion of the 5th AGM held on July 30, 2026 |
| Reason for Change | To enable TICMPL to have a common auditor with Tube Investments of India Ltd and ensure uniformity in audit process and practices. |
The resignation was tendered by Sundaram & Srinivasan, Chartered Accountants. They confirmed that there are no other material reasons for their departure from the role at TICMPL, expressing appreciation for the cooperation extended by the management and staff during their tenure.
TIINDIA Stock Price Movement
Tube Investments of India Limited shares closed today after shedding ₹94.70 or 3.40%, settling at ₹2688.8 in post-market trading. The stock saw a volume of 818,361 shares traded during the session.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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