Shalimar Paints Auditor Resigns Over Hella Infra Merger

Summary of Key Information:

Reporting Period (Quarter/Year): Not Specified

Nature of Filing / Announcement: Outcome of Board Meeting and disclosure under Regulation 30 of SEBI Listing Regulations

Audit Opinion:

Not Specified

Key Financial Highlights:

Not Specified

Corporate Actions:

The Board accepted the resignation of M/s. Walker Chandiok & Co LLP as Statutory Auditors and recommended the appointment of M/s. Sen & Ray, Chartered Accountants (Firm Registration No. 303047E) as new Statutory Auditors, subject to shareholder approval. The new auditors will hold office until the ensuing Annual General Meeting.

The Board also recommended the appointment of Mr. Michael Glover (DIN: 02039426) as an Additional Director (Non-Executive Independent Director) for a term of 3 years from November 11, 2026 to November 10, 2029.

Other Significant Information:

The proposed transaction involves Shalimar Paints becoming the holding company of Hella Infra Market Limited, subject to completion and requisite approvals. This transaction would significantly expand the group's operations beyond the current audit coverage scope of Walker Chandiok & Co LLP.

M/s. Sen & Ray, Chartered Accountants is an independent Indian partnership firm established in 1972, empaneled with CAG and RBI, with 11 partners and over 100 professionals operating across seven Indian cities and Dubai.

Mr. Michael Glover has over 40 years of professional experience, including 30 years in senior corporate management roles with multinational corporations. He currently serves as an Independent Director on the Board of Infra.Market and Martin Engineering India.