Belrise Industries recommends joint auditors for five-year term
- Belrise Industries recommends two firms as joint statutory auditors for a five-year term starting FY27
- The appointment replaces M/s. GSA & Associates LLP, whose term expires after the upcoming AGM
- Shailesh Haribhakti & Associates brings leadership experience from TVS Motor and Swiggy audit committees
- Rathi Rathi and Co. offers statutory and internal audit services with a team of over 170 professionals
- Shareholder approval is required for the appointment to take effect from the conclusion of the 30th AGM
*this image is generated using AI for illustrative purposes only.
Belrise Industries has recommended the appointment of M/s. Shailesh Haribhakti & Associates and M/s. Rathi Rathi and Co. as its joint statutory auditors for a five-year term commencing from FY27.
The Board of Directors made the recommendation on September 8, 2026, following the expiry of the current auditor's term. The new appointees will hold office from the conclusion of the 30th Annual General Meeting until the conclusion of the 35th Annual General Meeting in FY32.
Auditor Transition Details
The company’s existing statutory auditor, M/s. GSA & Associates LLP, was appointed for a second five-year term at the 25th Annual General Meeting held on September 17, 2021. Their tenure concludes at the ensuing Annual General Meeting.
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has proposed the new joint auditors subject to shareholder approval.
Profile of Proposed Auditors
| Firm | Location | Experience Highlights |
|---|---|---|
| Shailesh Haribhakti & Associates | Mumbai | Led by Mr. Shailesh Haribhakti with over five decades of experience; chairs Audit Committees of TVS Motor and Swiggy |
| Rathi Rathi and Co. | Pune | Founded in 2012; team of over 170 professionals across four offices; served clients including ILGIN Global India and Data Direct Networks India |
Mr. Shailesh Haribhakti has previously served on the board of L&T Finance and held leadership positions as Chairman of BDO India and Baker Tilly India.
Rathi Rathi and Co. provides statutory audit, internal audit, and tax audit services to several marquee Indian and multinational clients.
Historical Stock Returns for Belrise Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.06% | -2.52% | -7.98% | +18.26% | +61.23% | 0.0% |
How might the extensive experience of Shailesh Haribhakti, particularly his roles at TVS Motor and Swiggy, influence Belrise Industries' audit rigor and corporate governance standards?
What potential synergies or challenges could arise from appointing two firms with different scales and geographies (Mumbai vs. Pune) as joint statutory auditors?
Could this auditor transition signal any upcoming strategic shifts or financial restructuring within Belrise Industries that require specialized audit oversight?
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