In the wake of the tussle between the Birlas and Rajendra S Lodha over the will of Late Priyamvada Birla, chartered accountants firm Lodha & Company said it was not seeking re-appointment as auditors of Indo Gulf Fertilisers Ltd.
The Aditya Birla Group entity on Friday informed the Bombay Stock Exchange that Lodha & Company, which holds office till the conclusion of the annual general meeting, has in a letter expressed its desire not to offer itself for re-appointment as the statutory auditors of the company.
Birla vs Lodha: War over a will
Indo Gulf is taking necessary steps to appoint another auditor in its place, it said.
The annual general meeting was earlier scheduled for August 10 but was postponed and a new date is yet to be finalised by the company.
The decision to cancel the AGM was taken because the board wanted to a take a view on Rajendra Lodha's firm continuing as statutory auditor of Indo Gulf in the wake of issues raised over the will of Priyamvada Birla.
Shareholders of Hindalco, another Aditya Birla Group company, have already voted against Lodha as its statutory auditors.
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