NewsGE Power India Board Approves Re-appointment of Statutory Auditors and Appointment of Internal and Cost AuditorsGE Power India Board Approves Re-appointment of Statutory Auditors and Appointment of Internal and Cost Auditors
GE Power India Limited's Board of Directors, at its meeting on 11 May 2026, approved the re-appointment of M/s. Deloitte Haskins & Sells as Statutory Auditors for a second consecutive five-year term, subject to shareholder approval at the ensuing AGM. The board also appointed M/s. Ernst & Young LLP as Internal Auditor and M/s. Yogesh Gupta & Associates as Cost Auditor, both for Financial Year 2026-27. These resolutions were passed on the recommendation of the Audit Committee and disclosed pursuant to Regulation 30 of the SEBI Listing Regulations.
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GE Power India Limited's Board of Directors convened on 11 May 2026 and, acting on the recommendation of the Audit Committee, approved a series of auditor appointments. The board meeting commenced at 05:39 P.M. and concluded at 08:50 P.M. The decisions were disclosed to the stock exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with the SEBI Master Circular No. SEBI/HO/CFD/CFD-PoD2/CIR/P/0155 dated 11 November 2024.
Key Auditor Appointments Approved
The board approved three distinct auditor-related resolutions at its meeting. The following table summarises the appointments:
| Parameter: | Statutory Auditor | Internal Auditor | Cost Auditor |
|---|---|---|---|
| Firm Name: | M/s. Deloitte Haskins & Sells, Chartered Accountants | M/s. Ernst & Young LLP | M/s. Yogesh Gupta & Associates, Cost Accountants |
| Nature: | Re-appointment | Appointment | Appointment |
| Effective Date: | From conclusion of 34th AGM | 11 May 2026 | 11 May 2026 |
| Term: | Second term of five (5) consecutive years (up to conclusion of 39th AGM in FY2031-32) | Financial Year 2026-27 | Financial Year 2026-27 |
| Subject to Shareholder Approval: | Yes, at ensuing AGM | Not applicable | Not applicable |
| Firm Registration No.: | 015125N | Not specified | Not specified |
Re-appointment of Statutory Auditors
M/s. Deloitte Haskins & Sells, Chartered Accountants (Firm Registration No. 015125N), has been recommended for re-appointment as Statutory Auditors of GE Power India Limited for a second consecutive term of five years. The re-appointment is subject to shareholder approval at the ensuing Annual General Meeting. The first term of the statutory auditors is set to expire upon the conclusion of the ensuing AGM. If approved, the second term will be effective from the conclusion of the 34th (Thirty-Fourth) Annual General Meeting through to the conclusion of the 39th (Thirty-Ninth) AGM, to be held in Financial Year 2031-32. Deloitte Haskins & Sells is described as one of the world's largest professional services firms, with Deloitte India noted as a leading professional services firm in the country.
Appointment of Internal and Cost Auditors
For Financial Year 2026-27, the board approved the appointment of M/s. Ernst & Young LLP as Internal Auditor of the company. EY is a global professional services organisation operating in over 150 countries, delivering assurance, consulting, strategy and transactions, and tax services. The firm is noted for leveraging data, advanced technologies, and deep industry expertise to support organisations in managing risk, driving transformation, and enabling sustainable growth.
Simultaneously, M/s. Yogesh Gupta & Associates, Cost Accountants, was appointed as Cost Auditor for Financial Year 2026-27. The firm's principal is a Fellow Member of the ICAI (Cost) and ICSI, and a graduate of Delhi University with Honours in Commerce. He served as a Regional Council Member of the Institute of Company Secretaries of India from 2000 to 2006, holding the post of Vice-Chairman in 2003 and Chairman in 2004.
Disclosure and Compliance
The intimation was signed by Puneet Bhatla, Managing Director (DIN: 09536236), on behalf of GE Power India Limited. The disclosures were made in compliance with the applicable provisions of the Listing Regulations and the SEBI Master Circular, and have been communicated to both the National Stock Exchange of India Ltd. and BSE Ltd. for their information and records.
Historical Stock Returns for GE Power
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +5.00% | +5.79% | +45.43% | +131.40% | +182.43% | +158.34% |
How might EY's appointment as Internal Auditor signal a shift in GE Power India's risk management strategy or governance priorities for FY2026-27?
What potential changes in financial reporting quality or audit findings could investors expect following the transition to a Big Four internal auditor like EY?
Will shareholders raise any concerns or opposition regarding Deloitte Haskins & Sells' re-appointment at the ensuing AGM, given the five-year extension through FY2031-32?
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