Nuvoco Vistas Corporation Limited has disclosed the resignation of its statutory auditors, M S K A & Associates LLP (Firm Registration No. 105047W/W101187), effective from the conclusion of the Board meeting held on July 13, 2026.
The resignation was tendered via letter dated July 13, 2026, and was based on the auditors' interpretation of Section 139 of the Companies Act, 2013. M S K A believes they have completed the permissible term of 10 years, having audited the company's financial statements for 10 financial periods/years from FY2016-17 to FY2025-26 (including their initial appointment in casual vacancy for FY2016-17).
Historical Context
M S K A was initially appointed in casual vacancy for FY2016-17 and subsequently as statutory auditors up to the conclusion of the 23rd Annual General Meeting (AGM). They were re-appointed for a second term at the 23rd AGM held on August 5, 2022, with their term scheduled to continue until the conclusion of the 28th AGM in 2027.
Management Action
The Audit Committee and Board of Directors of Nuvoco Vistas accepted the resignation during their respective meetings held on July 13, 2026.
Auditor Declaration
In the required Annexure A format, M S K A confirmed:
- Their latest submission was a Limited Review Report for the Quarter Ended June 30, 2026, dated July 13, 2026
- The sole reason for resignation is "Completion of term as per Section 139 of the Companies Act, 2013"
- No concerns or disputes with management (all "Not Applicable" responses to conflict-related questions)
- No management-imposed limitations or inability to obtain audit evidence
- No significant impact on financial statements due to lack of information
- No alternative procedures were needed under SA 705 (Revised)
- No prevalence of information issues in previous financial statements
Financial Impact
The resignation represents an administrative change with no quantified financial impact disclosed. The company will need to appoint new statutory auditors to complete the remaining term until the 28th AGM in 2027.