Vikran engineering Limited has announced the resignation of its internal auditors M/S. Shetty and Shetty, Chartered Accountants, in a regulatory filing dated February 14, 2026. The resignation became effective immediately from the close of business hours on February 13, 2026.

Reason for Resignation

The departure stems from health challenges faced by the senior auditor who had been managing the company's internal audit functions for the past four years. According to the company's disclosure, the senior auditor was diagnosed with dengue along with other health-related issues, which significantly impacted their ability to commence and complete audit work according to the original timelines.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement was made to both BSE Limited and National Stock Exchange of India Limited through proper regulatory channels.

Company Communication

The regulatory filing was signed by Kajal Rakholiya, Company Secretary and Compliance Officer, and submitted from the company's Thane office. The communication included detailed annexures as required under SEBI regulations, providing comprehensive information about the resignation circumstances.

Impact on Operations

While the company has not disclosed immediate replacement plans, the resignation creates a vacancy in the internal audit function that will need to be addressed to maintain regulatory compliance and internal governance standards.

Vikran Engineering has announced the launch of a fully owned Special Purpose Vehicle (SPV) to execute a major solar energy project for NTPC. The newly established subsidiary, Vikran MP Solar Private Limited, will handle the implementation of the substantial renewable energy initiative.

Project Details

The SPV has been specifically created to manage NTPC's 400 MW solar project, representing a significant investment in India's renewable energy sector. The project details are outlined below:

Strategic Significance

The establishment of this dedicated SPV reflects Vikran Engineering's strategic approach to managing large-scale infrastructure projects. By creating a separate entity for this solar project, the company can ensure focused project management and dedicated resources for the NTPC contract.

The 400 MW solar project in Uttar Pradesh represents a substantial addition to India's renewable energy capacity. This initiative aligns with the country's broader goals of expanding clean energy infrastructure and reducing dependence on conventional power sources.

Corporate Structure Enhancement

The launch of Vikran MP Solar Private Limited strengthens the company's corporate structure by creating a specialized vehicle for renewable energy projects. This approach allows for better project governance, risk management, and operational efficiency in executing large-scale solar installations.