CSB Bank Appoints M P Chitale & Co as Joint Statutory Auditor for FY27
CSB Bank Limited's appointment of M P Chitale & Co as Joint Statutory Auditor for FY27 has been approved by the RBI. Sundaram & Srinivasan will continue as the other Joint Statutory Auditor. Shareholder approval is pending for M P Chitale & Co at the upcoming AGM.
The appointment of statutory auditors is a standard regulatory requirement and typically has a minimal direct impact on the bank's operations or financial performance.
The appointment of auditors is a routine corporate action and does not inherently carry a positive or negative financial implication.
CSB Bank Limited has announced the appointment of M P Chitale & Co, Chartered Accountants, as one of its Joint Statutory Auditors for the financial year 2026-27. The Reserve Bank of India (RBI) conveyed its approval for this appointment via a letter dated May 26, 2026. M P Chitale & Co will replace Walker Chandiok & Co. LLP, whose term concludes at the upcoming Annual General Meeting (AGM).
Additionally, the RBI has approved the continued appointment of Sundaram & Srinivasan, Chartered Accountants, as the other Joint Statutory Auditor for FY27. This marks their third year in office. The appointment of M P Chitale & Co is subject to shareholder approval at the ensuing AGM. Shareholders had previously approved the appointment of Sundaram & Srinivasan for a three-year term during the AGM held on August 23, 2024.
M. P. Chitale & Co. is a firm established in 1956, with offices in Mumbai and Pune, offering services in audit, assurance, taxation, and risk management consultancy. They have significant experience in the Banking, Financial Services, and Insurance (BFSI) sector.
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