Bank of Maharashtra has announced the appointment of four chartered accountant firms as Statutory Central Auditors (SCAs) for the financial year 2025-26. The appointments were made pursuant to approval from the Reserve Bank of India and were disclosed under Regulation 30 of SEBI (LODR) Regulations, 2015.

Auditor Appointments for FY2025-26

The bank has appointed a combination of continuing and new statutory central auditors to oversee its financial auditing requirements. The appointment structure includes both firms that are continuing their services and new additions to strengthen the auditing framework.

Continuing Statutory Central Auditors

M/s. G D Apte & Co., Mumbai operates under FRN 100515W and was founded in 1957. The firm currently has 13 partners with offices in Mumbai (Head Office) and Pune. The firm specializes in audit assurance including statutory and internal audits, taxation covering both direct and indirect taxes, forensic audits, due diligence during mergers and acquisitions, and IS audits. Their client portfolio spans manufacturing, services, BFSI, and charitable institutions, with extensive experience in conducting statutory, concurrent, and internal audits for banks, government companies, insurance companies, and private enterprises.

M/s. Manubhai Shah LLP, Ahmedabad operates under FRN 106041W/W100136 and was established in 1945. The firm has grown to 19 partners with a widespread presence across Ahmedabad (Head Office), Mumbai, Delhi, Rajkot, Vadodara, Gandhinagar, Udaipur, Jamnagar, Indore, and Surat. Their expertise encompasses audit assurance, risk and financial advisory services, risk management, and tax-related matters, with a proven track record in banking sector audits.

New Statutory Central Auditor Appointments

M/s Sagar Associates operates under FRN 003510S and was founded in 1989. The firm currently has 13 partners with offices strategically located in Hyderabad (Head Office), Tirupati, Bengaluru, Vijayawada, Visakhapatnam, and Chennai. Their service portfolio includes audit assurance, taxation, forensic audits, due diligence for mergers and acquisitions, and BFSI-related matters.

M/s S. Singhal & Co operates under FRN 001526C and was established in 1981. The firm has 10 partners with offices in Jaipur (Head Office), Bhiwadi, Gurgaon, Ahmedabad, and Mumbai. Their expertise covers audit assurance, company law consultancy, financial consultancy, IS audit, tax-related matters, and BFSI services.

Professional Experience and Credentials

All four appointed firms demonstrate substantial experience in the banking and financial services sector. Their collective expertise includes:

• Statutory, concurrent, and internal audits for various banks
• Government company auditing experience
• Insurance company audit services
• Private company audit engagements
• Risk management and financial advisory services
• Forensic audit capabilities
• Tax consultation and compliance services

The appointment of these statutory central auditors ensures comprehensive oversight of Bank of Maharashtra's financial reporting and compliance requirements for the financial year 2025-26, combining the continuity of experienced firms with fresh perspectives from new appointments.

AkzoNobel India has disclosed a significant block deal transaction where Imperial Chemical Industries Limited (ICIL), one of its public shareholders, sold 40,97,025 equity shares for an aggregate consideration of ₹1,296.09 crores on the National Stock Exchange platform on December 17, 2025.

Block Deal Transaction Details

The transaction represents a complete exit by ICIL from AkzoNobel India, with the sale constituting approximately 9% of the company's total paid-up capital. Following this block deal, ICIL no longer holds any equity shares in the company.

Insider Trading Disclosure and Regulatory Compliance

AkzoNobel India made comprehensive disclosures pursuant to Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015. The company confirmed that no promoter, promoter group, or group companies were buyers in this transaction, as it was conducted through the stock exchange platform with buyers being the public at large.

Transaction Structure and Market Impact

The block deal was executed on the National Stock Exchange platform, representing a significant institutional transaction in AkzoNobel India shares. The transaction was structured as an open market sale through the block deal mechanism, ensuring price discovery and market transparency. Notably, ICIL has been declassified as a promoter following the completion of this transaction on December 10, 2025, pursuant to Regulation 31A of SEBI LODR Regulations.

Company Communication and Documentation

The disclosure was signed by Rajiv L Jha, General Counsel, Company Secretary and Compliance Officer of AkzoNobel India Limited. The insider trading disclosure was submitted by ICIL representatives Okke L. Suurenbroek (Director Legal Corporate) and Kenny Choe, with the documentation dated December 18, 2025, from Amsterdam.

This block deal represents one of the significant institutional exits in the paints and varnish sector, with ICIL's complete divestment from AkzoNobel India marking the end of its shareholding in the company and its declassification from promoter status.