Globale Tessile re-appoints internal and tax auditors for FY27

1 min read Updated on 27 May 2026, 05:35 PM

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Naman SScanX News Team

AI Summary

Globale Tessile Limited has re-appointed M/s. D. Trivedi & Associates as Internal Auditor and M/s. Bhanwar Jain & Co. as Tax Auditor for the financial year 2026-27. The Board of Directors approved these appointments on May 26, 2026, ensuring compliance with the Companies Act, 2013, and the Income Tax Act, 1961.

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Globale Tessile Limited has re-appointed its internal and tax auditors for the financial year 2026-27. The Board of Directors approved the appointments during its meeting held on May 26, 2026. The decisions ensure continued compliance with statutory audit requirements for the upcoming fiscal year.

M/s. D. Trivedi & Associates has been re-appointed as the Internal Auditor. The firm, registered with the Institute of Chartered Accountants of India (ICAI) under registration number 0128309W, brings over 30 years of experience in taxation, accounts, and audit. This re-appointment is pursuant to Section 138 of the Companies Act, 2013.

The Board also re-appointed M/s. Bhanwar Jain & Co. as the Tax Auditor for the financial year 2026-27, covering the Assessment Year. The firm, holding ICAI registration number 117340W, has been in practice since 1998 and specializes in taxation, audit, and finance services. This appointment follows Section 44AB of the Income Tax Act, 1961.

Both appointments are effective on mutually agreed remuneration and terms & conditions between the Board and the respective firms. The disclosures were made to the stock exchanges pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.

Auditor Details

Auditor	Firm Registration No.	Role	Tenure
M/s. D. Trivedi & Associates	0128309W	Internal Auditor	FY27
M/s. Bhanwar Jain & Co.	117340W	Tax Auditor	FY27 (Assessment Year)

Historical Stock Returns for Globale Tessile

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+3.81%	+2.69%	-5.32%	+6.80%	-20.06%	-81.85%

Will the continued engagement of these auditors influence Globale Tessile's internal control framework ahead of FY27?

Could the re-appointments signal stability in the company's financial reporting for the upcoming fiscal year?

How might the auditor retention impact investor confidence in Globale Tessile's governance practices?

Scope of Examination

The secretarial audit examined all documents, records, filings, and submissions made by Globale Tessile to the stock exchanges, along with the company's website and other relevant documents. The following SEBI regulations were reviewed as part of the compliance examination:

SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 — Applicable
SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 — Applicable
SEBI (Prohibition of Insider Trading) Regulations, 2015 — Applicable
SEBI (Registrar to an Issue and Share Transfer Agents) Regulations, 1993 — Applicable
SEBI (Depositories and Participant) Regulations, 2018 — Applicable
SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 — Not Applicable during the review period
SEBI (Buy Back of Securities) Regulations, 2018 — Not Applicable during the review period
SEBI (Share Based Employee Benefits) Regulations, 2014 — Not Applicable during the review period
SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 — Not Applicable during the review period

Compliance Status: No Deviations Recorded

The Practicing Company Secretary confirmed that Globale Tessile complied with all applicable provisions of the above regulations and circulars during the review period. No deviations, violations, fines, or regulatory actions were observed or reported. Additionally, no actions were taken against the company, its promoters, directors, or subsidiaries by SEBI or any stock exchange during the period under review.

The compliance status across key regulatory parameters is summarised below:

Parameter:	Compliance Status	Remarks
Secretarial Standards (ICSI)	Yes	Complied with SS issued by ICSI under Section 118(10) of the Companies Act, 2013
Adoption & Updation of Policies	Yes	All applicable SEBI policies adopted, reviewed, and updated in conformity with regulations
Maintenance & Disclosures on Website	Yes	Functional website maintained; information disseminated in a timely manner
Disqualification of Directors	Yes	No director disqualified under Section 164 of the Companies Act, 2013
Subsidiaries (Material/Other)	NA	Company does not have any material subsidiary
Preservation of Documents	Yes	Records preserved, maintained, and disposed of as per SEBI Regulations
Performance Evaluation	Yes	Board, Independent Directors, and Committees evaluated as prescribed
Related Party Transactions	Yes	Prior approval of Audit Committee obtained for all related party transactions
Disclosure of Events or Information	Yes	All disclosures under Regulation 30 and Schedule III made within prescribed time limits
Prohibition of Insider Trading	Yes	Structured Digital Database maintained for handling UPSI
Actions by SEBI or Stock Exchanges	NA	No actions taken against the entity, promoters, directors, or subsidiaries
Additional Non-Compliances	NA	No additional non-compliance observed

Auditor Resignation Compliance

With respect to SEBI Circular CIR/CFD/CMD1/114/2019 dated 18th October, 2019, all provisions relating to the resignation of statutory auditors — including conditions for issuing limited review or audit reports prior to resignation, reporting of concerns to the Audit Committee, and obtaining information from the auditor upon resignation — were marked as Not Applicable for Globale Tessile during the review period.

Assumptions and Limitations

The Practicing Company Secretary noted that the report is based solely on examination of relevant documents and information provided by the management, and does not constitute an audit or expression of opinion. The correctness and appropriateness of financial records and books of accounts were not verified. The report is intended exclusively for compliance purposes under Regulation 24A(2) of the SEBI LODR Regulations, 2015, and does not serve as an assurance of the company's future viability or the effectiveness of its management.

The report was signed by Malay Desai, Proprietor, Malay Desai & Associates (Membership No: A48838, COP: 26051, Peer Review: 6426/2025, UDIN: A048838H000243780) and dated 30th April, 2026, from Ahmedabad.

Historical Stock Returns for Globale Tessile

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+3.81%	+2.69%	-5.32%	+6.80%	-20.06%	-81.85%

How might Globale Tessile's consistent regulatory compliance record influence its ability to attract institutional investors or pursue future capital-raising activities?

Given that SEBI's capital issuance and buyback regulations were not applicable this year, is the company likely to explore equity expansion or share buyback programs in the near future?

How could Globale Tessile leverage its clean compliance track record to strengthen its competitive positioning within India's textile sector amid evolving SEBI regulatory requirements?