Key Quantitative Figures & Dates
- Date of Board Meeting: 28th May, 2026
- Date of Appointment: 28th May, 2026
- Term of Appointment: Financial Year 2026-27
- Firm Registration Number: 109983W
Parties Involved
- New Internal Auditor: M/s. Sharp & Tannan, Chartered Accountants
- Recommending Body: Audit Committee of the Company
- Approving Body: Board of Directors of the Company
- Regulatory Reference: SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 11th July, 2023, last updated on 30th January, 2026
Brief Profile of the Appointed Firm (M/s. Sharp & Tannan)
- The firm was established in 1934 by Mr. CR Sharp and Mr. BR Tannan.
- Its head office is in Mumbai, with branches across India, including in Ahmedabad and Baroda, Gujarat.
- It currently has nine partners: Alkesh Hirapara, Amit Shah, Hemal Modi, Sapan Gandhi, Arnob Chaudhary, Hemul Desai, Parthiv Desai, Pramod Bhise, and Tirthraj Khot.
- The firm's partners have a collective experience of more than six decades in internal audit, assurance, and consulting.
- It is proponent of risk-based auditing and operates under the COSO 1992 framework.
- Its services focus on risk identification, strategic inputs, process control optimization, cost-saving opportunities, debottlenecking, and statutory compliance.
- The firm is an early adopter of Robotic Process Automation (RPA) and robotics automations in internal audit for improved efficiency.
Purpose or Rationale
The appointment is a standard compliance procedure for the internal audit function for the upcoming financial year. The disclosure is made to comply with SEBI LODR regulations.
Financial Impact
Financial impact not quantified in the disclosure.
Capital Structure Impact
No impact on capital structure disclosed.
Governance & Compliance
- The appointment was recommended by the Audit Committee.
- The Board of Directors approved the appointment in its meeting on 28th May 2026.
- The disclosure is made in accordance with Regulation 30 of SEBI LODR.