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At least three corporates in Coimbatore, Kovai Medical Center and Hospital Ltd (KMCH), Pricol Ltd and LGB Forge have informed the stock exchange about the resignation of their statutory auditor.
Incidentally, all of them had appointed Haribhakti & Co LLP as the statutory auditor of their respective companies for the financial years 2015-16 to 2019-20. (Pricol's appointment of Haribhakti & Co came a year later in 2016-17 to 2019-20)
While KMCH communicated this development to the exchange on June 11, Pricol and LGB Forge did it two days later on June 15.
The companies have said that the statutory auditor had cited “proposed internal restructuring in the audit firm” as the reason for opting out on early rotation.
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