SR Batliboi & Associates LLP, Chartered Accountants of Mumbai International Airport Ltd, part of GVK Airports Holdings Ltd, a step down subsidiary of the GVK Power and Infrastructure Ltd, have informed that they have resigned as its statutory auditors.

Mentioning about their appointment as statutory auditors of G V K Airport Holdings Ltd, at the 13th Annual General Meeting held on September 29, 2018 for a period of 5 years starting from April l, 2019 until the conclusion of the 18th Annual General Meeting, in a regulatory filing, the auditors stated, “Based on our discussions with the management of GVKAHL and our reading of the minutes of the 84th Board meeting of the company held on August 26, 2020, we understand that the shareholding of the company would undergo a change pursuant to an Agreement entered into between the Company, Adani Airports Holding Ltd (AAHL) and certain other group companies of the company and AAHL. Following this, the company will become a subsidiary of Adani Airport Holdings Ltd, which in turn is a subsidiary of Adani Enterprises Ltd (AEL).”

The audit firm said, “We have enquired and observed that there are certain non-audit services which are being provided by another member firm to AAHL and AEL, because of which we regret to inform you of our inability to continue as the statutory auditors of GVK Airport Holdings Ltd under our internal independence requirements up to the conclusion of the 18th Annual General Meeting of your company and request you to treat this as our letter of resignation with immediate effect.”

It further mentioned, “We have audited the financial statements of the company for the year ended March 31, 2020 and issued audit report dated March 31, 2021 thereon. Further, we have not commenced the audit of the company for the year ending March 31,2021. We take this opportunity to reiterate our appreciation for the courtesies and cooperation extended to us by your company.”

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