Educomp Solutions Appoints GDR Associates LLP as Statutory Auditors for Five Years
Educomp Solutions Limited has appointed GDR Associates LLP as statutory auditors for a 5-year term, subject to shareholder approval. The Resolution Professional also recommended Vimal Chadha Associates as secretarial auditors for a 5-year period starting FY 2025-26. These appointments comply with SEBI regulations and the Companies Act, addressing vacancies from expired auditor terms.
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Educomp Solutions Limited has announced significant auditor appointments as part of its regulatory compliance under SEBI listing regulations. The company, currently under resolution proceedings, has secured new audit partnerships to ensure continued statutory compliance.
Statutory Auditor Appointment
The Resolution Professional, with concurrence from lenders, has approved the appointment of GDR Associates LLP as the company's statutory auditors. The appointment details are as follows:
| Parameter | Details |
|---|---|
| Auditor Firm | GDR Associates LLP, Chartered Accountants |
| Term Duration | 5 consecutive years |
| Tenure Period | From conclusion of 31st AGM to conclusion of 36th AGM |
| Office Location | 205, Sector-15A, Faridabad-121007 |
| Approval Required | Shareholder approval at ensuing AGM |
GDR Associates LLP, established in 1997 as a partnership firm before converting to LLP status, brings substantial experience to the role. The firm operates with 17 partners, of which 4 partners specialize specifically in statutory audit services, providing 24 years of accumulated expertise in the field.
Secretarial Auditor Recommendation
In addition to the statutory auditor appointment, the Resolution Professional has recommended Vimal Chadha Associates for the secretarial auditor position. This appointment covers a five-year consecutive period commencing from financial year 2025-26, also subject to shareholder approval at the upcoming Annual General Meeting.
Vimal Chadha Associates operates as a peer-reviewed proprietorship firm under Company Secretary CP No. 18669, ensuring compliance with secretarial audit requirements under corporate governance norms.
Regulatory Compliance Framework
The appointments have been made in adherence to multiple regulatory frameworks:
- SEBI Regulations: Compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- Companies Act: Adherence to applicable provisions of Companies Act, 2013 and associated rules
- SEBI Circular: Following SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024
The appointments address vacancies created by the expiry of previous auditor terms, ensuring continuity in the company's audit and compliance functions. Both appointments require formal shareholder approval at the company's ensuing Annual General Meeting, with remuneration to be determined by the Resolution Professional in consultation with the respective auditors.
These appointments reflect Educomp Solutions' commitment to maintaining governance standards while navigating its resolution process under the guidance of Resolution Professional Mahender Kumar Khandelwal.
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