Shareholders of Alfa Transformers approved the re-appointment of Saroj Ray & Associates as its secretarial auditors during a meeting held on July 28, 2026. The firm will serve a five-year term covering financial years 2026-27 through 2029-30, marking its third consecutive tenure with the company. This decision ensures continuity in regulatory oversight and compliance monitoring for the transformer manufacturer.

The appointment was made pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board had initially proposed the re-appointment in a communication dated May 30, 2026, seeking shareholder approval for the extended term. The final approval aligns with the requirements under the Companies Act, 2013 and SEBI guidelines regarding auditor tenure limits.

Saroj Ray & Associates, a firm of Practising Company Secretaries registered with FRN P2001OR013200, has over two decades of experience in corporate laws, securities laws, and FEMA regulations. The firm provides professional services including secretarial audits, due diligence audits, and compliance audits. It is peer-reviewed by the Institute of Company Secretaries of India, ensuring adherence to professional standards.

Auditor Profile and Compliance

The consent to act as secretarial auditor for the financial year 2026-27 was formally conveyed by CS Uttam Baral, Partner at Saroj Ray & Associates, on May 18, 2026. In the consent letter, the firm confirmed that it is not disqualified for appointment under the Companies Act, 2013 or the guidelines issued by the Institute of Company Secretaries of India.

The firm stated there are no proceedings against any partner pending with respect to professional misconduct. This clean record supports the company’s decision to extend the engagement for a third consecutive term, providing stability in its compliance framework.

Regulatory Disclosures

The requisite disclosure was filed with BSE Limited pursuant to Part A Para A of Schedule III of Regulation 30 of the SEBI Listing Regulations. The filing also referenced SEBI Master Circular HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated January 30, 2026. Choudhury Sanjay Kumar Das, Company Secretary and Compliance Officer of Alfa Transformers Limited, signed the disclosure documents.

This re-appointment ensures that Alfa Transformers maintains consistent oversight of its corporate governance practices. The five-year term allows for long-term planning in compliance audits while adhering to statutory rotation requirements mandated by Indian corporate law.

Alfa Transformers Limited shareholders have approved the resignation of M/s Goutam & Co, Chartered Accountants, as the company's internal auditors. The approval was granted during a shareholder meeting held on July 28, 2026, formalizing a transition that began earlier in the financial year. The resignation stems from Goutam & Co's appointment as the statutory auditor for Alfa Transformers Limited for the financial year 2025-26, necessitating a change in its engagement scope to comply with regulatory independence requirements.

The company issued an intimation to the BSE Limited pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This disclosure aligns with the SEBI Master Circular dated January 30, 2026, bearing reference number HO/49/14/14(7)2025-CFDPOD2/I/3762/2026. The move ensures that the firm's new statutory duties do not conflict with its previous internal audit responsibilities, maintaining compliance with the Companies Act, 2013.

Goutam & Co, identified by Firm Registration No. 326869E, originally tendered its resignation on May 26, 2026. The firm confirmed that it had completed all deliverables under its internal audit engagement for FY25-26 prior to stepping down. Specifically, the final Internal Audit Report for Q4 of FY2026, covering the period from January 2026 to March 2026, was submitted to the Audit Committee on May 25, 2026.

Key Details of Resignation

The resignation letter, signed by Managing Partner CA Goutam Lenka, stated that there were no outstanding internal audit reports, pending observations, or unresolved matters at the time of departure. The firm issued a comprehensive Internal Audit Closure Letter on the same day as its resignation, marking the end of its tenure as internal auditor. The company had previously communicated the intent to resign in a notice dated May 30, 2026.

Regulatory Compliance and Transition

The transition from internal auditor to statutory auditor is a standard regulatory procedure designed to preserve audit independence. Under Section 138 of the Companies Act, 2013, read with Rule 13 of the Companies (Accounts) Rules, 2014, firms cannot serve in both capacities simultaneously for the same entity. By resigning from the internal audit role effective close of business on May 26, 2026, Goutam & Co cleared the path for its statutory appointment.

Choudhury Sanjay Kumar Das, Company Secretary and Compliance Officer of Alfa Transformers Limited, certified the disclosure. The company maintains its registered office at Plot No. 3337, Mancheswar Industrial Estate, Bhubaneswar, Odisha. The operational plants are located in Bhubaneswar and Vadodara, Gujarat. The ISIN for the company's securities remains INE209C01015, and the scrip code on BSE is 517546.