Ahmedabad, India (July 16, 2024): Sanghi Industries Limited, a cement manufacturer and part of the Adani Group, has announced the resignation of its statutory auditor, S.K. Mehta & Co., Chartered Accountants. The resignation will take effect from the close of business hours on July 29, 2024, following the submission of the Limited Review Report for the quarter ended June 30, 2024.
The resignation comes as the Adani Group seeks to streamline its audit processes within its cement vertical, with plans to have all listed companies in this sector audited by the statutory auditors of the holding company, Ambuja Cements Limited.
S.K. Mehta & Co. has confirmed that there are no disputes or concerns regarding the information provided by Sanghi Industries' management for audit purposes. The audit firm has completed the statutory audit for the financial year ended March 31, 2024, and issued an unmodified opinion.
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