Oswal Greentech: Statutory Auditors Mehta Chokshi & Shah LLP Resign Due to Fee Disagreement
Oswal Greentech Limited's statutory auditors, Mehta Chokshi & Shah LLP, have resigned effective August 11, 2026. The resignation is due to a disagreement over audit fees for FY 2026-27. The company will appoint a new auditor.
A change in statutory auditors can have a medium impact as it may lead to a temporary disruption in audit processes and requires the appointment of a new auditor, which could affect the timeliness or quality of future financial reporting.
The resignation of auditors is a routine event, and the reason provided (fee disagreement) is a common business issue. The sentiment is neutral as it doesn't immediately indicate financial distress or significant positive development.
Oswal Greentech Limited has announced the resignation of its statutory auditors, M/s. Mehta Chokshi & Shah LLP, Chartered Accountants. The resignation is effective from the closing hours of August 11, 2026.
The auditors cited "constraints relating to audit fees" as the reason for their resignation. They stated that their fee proposal for the financial year FY 2026-27 was not approved by the company, and in the absence of agreed-upon remuneration commensurate with the scope and responsibility of the audit, they were unable to continue their services.
The auditors emphasized that this decision is solely based on a business disagreement regarding fees and that there are no other circumstances to report to the company's members or creditors. They were appointed as statutory auditors following a resolution passed at the Annual General Meeting on September 25, 2025.
The company has been informed of the resignation and will take necessary steps to appoint a new statutory auditor to fill the casual vacancy as per the Companies Act, 2013. M/s. Mehta Chokshi & Shah LLP have committed to providing reasonable assistance to the incoming auditor for a smooth transition.
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Oswal Greentech Limited filed this with the NSE as a statutory disclosure, categorised under auditor changes. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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