TeleCanor Global has withdrawn its proposal to remove its statutory auditors, M/s. K.K. Goel & Co., following the restoration of necessary cooperation. The Board of Directors approved this decision at a meeting held on September 26, 2026, effectively resolving the ongoing compliance friction that had previously threatened to escalate into regulatory disputes.

The company stated that all queries raised and documents required for the statutory audit have been duly addressed and provided by the auditors. Consequently, M/s. K.K. Goel & Co. will continue to act as the Statutory Auditors in accordance with applicable laws and the terms of their appointment. This development marks a significant shift from the Board’s earlier stance on September 19, 2026, when it had approved initiating removal proceedings due to alleged non-cooperation and failures impacting timely statutory filings.

Resolution of Auditor Dispute

The withdrawal of the removal process signifies that the immediate operational bottleneck regarding audit support has been cleared. Previously, the company had planned to file an application in Form ADT-2 with the Regional Director under Section 140(1) of the Companies Act, 2013, seeking approval for the removal. With the matter resolved internally, these regulatory filings will not proceed, allowing the company to focus on completing its statutory audit requirements.

Despite the resolution with the auditors, TeleCanor Global continues to face delays in its securities listing on the Bombay Stock Exchange (BSE). The listing application, submitted in January 2026, remains pending despite multiple clarifications and personal meetings between directors and senior BSE officials. The company had previously cited severe stress and medical emergencies attributed to corporate anxiety caused by these delays, threatening escalation to SEBI and the Securities Appellate Tribunal if approval was not expedited.

Compliance Status and Financial Impact

The recent cooperation from the auditors addresses the specific compliance issues that had led to stock exchange fines. The pending results for quarters ended June 2026 and March 2026 were a primary source of contention, resulting in daily penalties.

These fines were levied or increased by the Stock Exchange due to the pending submission of results and other statutory requirements. The company remains committed to ensuring timely completion of its statutory audit and compliance requirements moving forward.

Legal Actions Suspended

With the withdrawal of the removal proposal, the authorized complaints against M/s. K.K. Goel & Co. before the Registrar of Companies (RoC), Regional Director/Ministry of Corporate Affairs (MCA), and Institute of Chartered Accountants of India (ICAI) are effectively paused. The company had reserved the right to pursue other legal remedies regarding the regulatory, compliance, and financial impact suffered. However, the current status indicates a preference for collaborative resolution over adversarial legal action for now.

TeleCanor Global Limited appointed Swetha Pilli as Managing Director and removed its statutory auditors following a board meeting on September 10, 2026.

The Hyderabad-based company announced the leadership change effective September 2, 2026, citing health reasons for the outgoing director’s step down from the executive role.

Board Composition Changes

The Board approved two key designation changes during the meeting held at its registered office in Hyderabad:

• Praturi Maruti Ram (DIN: 01556649) changed designation from Managing Director to Non-Executive Director due to illness and deteriorating health.
• Swetha Pilli (DIN: 06397865) changed designation from Whole Time Director to Managing Director.

Both changes took effect on September 2, 2026. The filing confirmed that neither director is related to any other Director or Key Managerial Personnel (KMP). Both are free from disqualifications under applicable provisions and have not been debarred by SEBI or any statutory authority.

Auditor Removal

The Board also approved the removal of M/s. K. K. Goel & Co., Chartered Accountants (FRN 005299N), as Statutory Auditors. The company cited "non-cooperation" as the reason for the removal.

This action is subject to compliance with the Companies Act, 2013, and obtaining necessary approvals where required. The company stated that further information regarding the process will be disclosed in due course.

Regulatory Disclosures

The disclosures were made under Regulation 30 of the SEBI Listing Regulations, read with relevant SEBI Circulars. The meeting commenced at 4:00 pm and concluded at 5:00 pm.