Sadbhav Infra Board Approves New Auditor, Considers Subsidiary Asset Disposal
Sadbhav Infrastructure Project Limited's Board recommended M/s. O R Maloo & Co. as the new Statutory Auditor. The Board also considered the disposal of assets and shareholding in material subsidiaries, Sadbhav Maintenance Infrastructure Pvt. Ltd. and Sadbhav Infra Solutions Pvt. Ltd. The AGM is scheduled for September 30, 2026.
The appointment of a new statutory auditor is a routine corporate governance requirement. However, the consideration of disposal of assets and shareholding in material subsidiaries indicates potential significant structural changes within the company, which could impact its future operations and financial performance.
The announcement details routine corporate actions like auditor appointment and consideration of subsidiary asset disposal. While the appointment of a new auditor is a procedural step, the potential disposal of subsidiary assets could have future implications, but no definitive action or financial impact is immediately ascertainable from this announcement.
Sadbhav Infrastructure Project Limited announced the outcome of its Board of Directors meeting held on September 5, 2026. The Board recommended the appointment of M/s. O R Maloo & Co., Chartered Accountants, as the new Statutory Auditor, subject to shareholder approval at the upcoming Annual General Meeting (AGM).
This appointment is to fill a casual vacancy created by the resignation of the previous auditors, M/s. S G D G & Associates LLP, on August 12, 2026. M/s. O R Maloo & Co. will serve for a term of five consecutive years, from the conclusion of the 2026 AGM until the conclusion of the 25th AGM in 2031.
Furthermore, the Board considered the sale, transfer, or disposal of assets exceeding 20% of the assets of its material subsidiaries, Sadbhav Maintenance Infrastructure Private Limited and Sadbhav Infra Solutions Private Limited. This also includes the potential liquidation or disposal of the Company's entire shareholding in these subsidiaries, which could result in the cessation of control. The Board also approved the notice for the Annual General Meeting (AGM) scheduled for September 30, 2026.
The Board meeting commenced at 8:30 p.m. and concluded at 9:30 p.m. The financial contribution of the subsidiaries to the company's turnover and net worth was also detailed in the annexures. Sadbhav Maintenance Infrastructure Private Limited contributed 0.022% of the consolidated turnover for FY 2025-26, while Sadbhav Infra Solutions Private Limited contributed 0.004%.
A plain-language summary of a public exchange filing by Sadbhav Infrastructure Project Limited. Read the original for the full detail.
