Company Disclosure
Steelco Gujarat Limited (Scrip Code: 500399) disclosed the resignation of its statutory auditor M Sahu & Co., Chartered Accountants (Firm Registration No. 130001W) pursuant to SEBI LODR Regulations.
Nature of Event
Resignation of statutory auditor received via letter dated August 7, 2026, effective from close of business hours on August 14, 2026.
Reason for Resignation
The resignation was tendered solely to enable the company to comply with Clause 7.13 of the Debenture Trust Deed dated December 3, 2025, which requires the company to appoint another accounting firm as statutory auditor acceptable to the Debenture Trustee and Debenture Holders until the Final Settlement Date.
Auditor's Confirmation
M Sahu & Co. confirmed that the resignation is not due to any concerns relating to company management, conduct of audit, limitation on audit scope, availability of information, or any other reportable matter under applicable laws or SEBI LODR Regulations.
Auditor Tenure Details
- Appointment date: 34th Annual General Meeting held on September 23, 2024
- Original term: Five years from conclusion of 34th AGM until conclusion of 39th AGM
- Latest audit report submitted: FY 2025-2026 audit report dated May 26, 2026
Effective Date and Transition
The resignation becomes effective on August 14, 2026, subject to appointment of successor statutory auditor in accordance with Companies Act, 2013 and other applicable laws. The auditor will continue duties until effective date and will file Form ADT-3 with Registrar of Companies within prescribed time.
Financial Impact
No financial impact quantified in the disclosure. The change is procedural to comply with debenture trust deed requirements.
Documentation
Disclosure includes Annexure A with details under Regulation 30 and copy of resignation letter dated August 7, 2026.