Announcement News

Outcome of the Board Meeting held on 2nd June, 2017

The Board, amongst other items of Agenda, considered and approved the following matters 

Audited Financial Results for the quarter and year ended on 31st March, 2017.
The Board had approved the Financial Results for the quarter and year ended on 31st March, 2017 along with the Auditors Report.

Appointment of Statutory Auditor
The Board had approved the appointment of Statutory Auditor viz. M/s. Walker Chandiok & Co LLP (Registration No. 001076N/N500013) in place of existing Auditors, subject to the approval of shareholders in the forthcoming  Annual General Meeting (AGM).
Pursuant to Regulation 30 of SEBI (LODR) Regulation, 2015, please find below information with regards to the appointment of Auditors:

Reason for change in Auditors
Pursuant to the requirement of mandatory rotation of Auditors as prescribed under Section 139 of the Companies Act, 2013 and subject to the approval of the Shareholders in the forthcoming AGM, the Board had approved the appointment of M/s. Walker Chandiok & Co. LLP (Registration No. 001076N/N500013), Chartered Accountants in place of existing Auditors, whose term will expire on the forthcoming Annual General Meeting.

Date of Appointment & Term of Appointment
M/s. Walker Chandiok & Co. LLP (Registration No. 001076N/N500013), Chartered Accountants has been appointed for a period of 5 years from the conclusion of forthcoming AGM (31st AGM) till the conclusion of 36th AGM.

Brief Profile
Walker Chandiok & Co. LLP (Registration No. 001076N/N500013), Chartered Accountants (‘the Firm”) is an independent Indian partnership firm established in 1935, with its head office at 1st floor, L-41 Connaught Circus, New Delhi 110001. The firm is registered with the Institute of Chartered Accountants of India (“ICAI”) as well as the PCAOB (Public Company Accountancy Oversight Board) in the US.

Declaration regarding Auditor’s Report with unmodified opinion
Pursuant to Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements)  Regulations, 2015,  we hereby declare that Statutory Auditors of the Company have issued Auditor’s Report with unmodified opinion on the Annual Audited Financial Results of the Company for the financial year ended on 31st March, 2017.