Orissa Minerals Development Company Limited has appointed M/s. SDR & Associates, Chartered Accountants based in Bhubaneswar, Odisha, as its Statutory Auditor for the financial year 2026-2027. The appointment was communicated to stock exchanges following a directive from the Office of the Comptroller and Auditor General of India (CAG).

The company informed the Bombay Stock Exchange, National Stock Exchange, and Calcutta Stock Exchange on October 14, 2026, citing Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The appointment is made in exercise of powers conferred by Section 139 of the Companies Act, 2013.

Appointment Details

The CAG’s letter, dated September 9, 2026, formally designated the firm as the Statutory Auditor. The appointment covers the financial year 2026-2027. The statutory auditor of the holding company will also serve as the auditor for Consolidated Financial Statements under Section 139 read with Section 129(4) of the Companies Act, 2013.

Compliance and Reporting Obligations

The company is required to contact the concerned auditors individually with intimation to the CAG office. The supplementary or test audit under Sections 143(6) and (7) of the Companies Act, 2013, is entrusted to the Director General of Audit (Steel) in Ranchi.

Remuneration and allowances payable to the auditors will be regulated per Section 142 of the Companies Act, 2013, along with guidelines issued by the Department of Company Affairs. The company must provide details of audit fees, including consolidation fees, and remuneration for other services once the accounts for the year 2025-2026 are finalized. This information enables the CAG to review the appointment or re-appointment of auditors.

Governance Context

This appointment aligns with standard governance protocols for Central Public Sector Enterprises (CPSEs). The CAG retains the authority to appoint statutory auditors for government companies to ensure independence and adherence to public sector auditing standards. The appointment letter enclosed with the exchange filing confirms the specific engagement terms for the upcoming fiscal period.

Orissa Minerals Development Company Ltd has secured a two-month extension from the Registrar of Companies (ROC), Cuttack, to conduct its 108th Annual General Meeting (AGM) for the financial year ended March 31, 2026. The new deadline for holding the meeting is November 30, 2026.

The extension was granted under Section 96(1) of the Companies Act, 2013. The company had applied to the ROC on September 26, 2026, requesting additional time due to a delay in receiving comments from the Comptroller and Auditor-General of India (CAG). Without these statutory observations, the company could not finalize its accounts and convene the AGM within the original timeline.

Regulatory Compliance Details

The ROC order, dated September 29, 2026, formally approves the request submitted by OMDC. The regulatory body noted that the delay in CAG feedback constituted a valid reason for the extension. However, the Registrar advised the company to exercise greater caution in future compliance with the Companies Act, 2013, to avoid similar procedural delays.

Key Dates and Deadlines

Operational Context

The company is a government-owned entity under the Ministry of Corporate Affairs. The requirement for CAG comments is standard for public sector undertakings before their annual accounts can be finalized for shareholder approval. This dependency on external audit timelines often dictates the scheduling of AGMs for such entities.

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency for shareholders and market participants regarding the revised corporate calendar.