Punj Lloyd Limited: Cost Auditor Resignation in Corporate Insolvency Resolution Process

IBC 20 Jul 2026 · Filed / open· ✓ Verified

Punj Lloyd Limited, a large engineering and construction conglomerate, notified the NSE of the resignation of M/s SGTC & Associates, its Cost Auditors, for FY 2018–19. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as mandated for listed companies. The timing of this resignation - during an active Corporate Insolvency Resolution Process - indicates that the company is in formal insolvency proceedings. Cost auditor appointments and resignations during CIRP are material for stakeholder transparency regarding financial and operational audit status.

Why it mattersCost auditor resignation mid-CIRP signals governance friction or cost-audit complexity in restructuring; the 2018–19 audit lag (7+ years post-FY end) suggests CIRP has disrupted statutory compliance timelines - a precedent for how IBC statutory obligation cascades apply.
SectorIndustrials
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