Auditor Resignation Details
M/s. Eswara Rao & Co., Chartered Accountants (Firm Registration No. 000816S) resigned as statutory auditors of Transgene Biotek Limited effective 28 October 2026. The auditors were originally appointed on 10 October 2026 by the Board of Directors to fill a casual vacancy caused by the resignation of previous auditors M/s. Vasavi & Co., Chartered Accountants. Their term was scheduled to expire at the conclusion of the next Annual General Meeting, subject to member approval.
Reason for Resignation
The resignation was triggered by a medical emergency in the family of both partners responsible for the engagement, requiring them to travel to Guntur at short notice. This prevented them from devoting sufficient time to understand the company's business, accounting systems, and internal controls necessary to complete the limited review for the quarter ended 30 September 2026, which was due by 14 November 2026.
Work Status and Confirmations
The auditors confirmed they had not commenced any audit or limited review work for the company, including the limited review for Q2 September 2026. They held a preliminary meeting with management, and information sharing had begun, but no substantive work was performed. The auditors confirmed there were no instances of non-availability of information or non-cooperation by management that impeded their work, and they had no concerns to report to the Audit Committee.