Date: 29th May, 2026
KMP / Board / Auditor Changes
M/s Patankar & Associates, Chartered Accountants, Pune (Firm Registration No: 107628W) have resigned as Statutory Auditors of GFCL EV Products Limited, a Material Subsidiary of Gujarat Fluorochemicals Limited.
- Effective Date: Resignation takes effect from the conclusion of the forthcoming Fifth Annual General Meeting (AGM) of GFCL EV Products Limited
- Reason for Resignation: To facilitate compliance with Shareholder Agreement terms between GFCL EV Products Limited and International Finance Corporation, which mandates appointment of a Big Five Accounting Firm as statutory auditor
- Tenure: Originally appointed on 25th September 2022 for a period of five consecutive years until conclusion of Sixth AGM in FY 2027-28
- Replacement: GFCL EV Products Limited proposes to appoint Walker Chandiok & Co LLP, Chartered Accountants as new Statutory Auditors subject to requisite approvals
- Audit History: Completed statutory audit for FY 2025-26 and submitted unmodified audit report dated 25th May, 2026
Auditor Declaration
- No concerns or disagreements with management cited for resignation
- No management-imposed limitations or circumstances beyond control affecting the audit
- No lack of information that would significantly impact financial statements
- No prevalence of lack of information in previous financial statements
- Confirmation that information provided is correct and complete
Other Operational / Legal / Strategic Disclosures
The resignation is specifically to enable compliance with Shareholder Agreement terms with International Finance Corporation that requires appointment of a Big Five Accounting Firm as statutory auditors. The transition is described as intended to ensure a smooth process.