CG Power seeks shareholder approval for new statutory auditors via postal ballot
CG Power is conducting a postal ballot for shareholders to approve the appointment of Price Waterhouse Chartered Accountants LLP as Statutory Auditors, filling a vacancy. The voting period is from August 27 to September 25, 2026. The proposed annual remuneration is ₹1.58 Crores.
The appointment of statutory auditors is a standard regulatory requirement and does not directly impact the company's operations or financial performance in the short term.
The announcement is a routine corporate action regarding the appointment of auditors due to a resignation and auditor rotation policies. It does not contain any significant positive or negative financial or operational news.
CG Power and Industrial Solutions Limited is seeking approval from its members through a postal ballot for the appointment of M/s. Price Waterhouse Chartered Accountants LLP as Statutory Auditors. This appointment is to fill the casual vacancy caused by the resignation of M/s. SRBC & CO LLP, Chartered Accountants. The voting period for the postal ballot will commence on August 27, 2026, at 09:00 a.m. IST and conclude on September 25, 2026, at 05:00 p.m. IST. The proposed remuneration for Price Waterhouse Chartered Accountants LLP is ₹1.58 Crores annually, excluding taxes and out-of-pocket expenses. The resignation of the previous auditors was due to auditor rotation policies related to the holding company, Tube Investments of India Limited.
The company has dispatched the Postal Ballot Notice to its members, whose email IDs are registered, for remote e-voting. Detailed instructions for remote e-voting are provided, utilizing the NSDL e-voting system. The results of the postal ballot are expected to be announced on or before September 29, 2026. The appointment of the new auditors, if approved, will be effective from August 19, 2026, until the conclusion of the 90th Annual General Meeting in 2027.
What to do with a filing like this
CG Power and Industrial Solutions Limited filed this with the NSE as a statutory disclosure, categorised under board meeting. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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See the model portfoliosA plain-language summary of a public exchange filing by CG Power and Industrial Solutions Limited. Read the original for the full detail.