Chartered accountancy firm Lodha & Co has resigned as statutory auditor for Grasim Industries Ltd, a Aditya Birla group company, and city-based G P Kapadia & Co has been appointed as sole statutory auditors for the firm.
Lodha & Co would also cease to work as branch auditors for Rajashree Cement and Birla White Cement divisions of the company, Grasim informed the Bombay Stock Exchange on Thursday.
Kapadia & Co is already working as the joint statutory auditors of the company.
It would also conduct audit for Rajashree Cement and Birla White Cement in accordance until the conclusion of the next annual general meeting, it said.
On Wednesday, Lodha & Co had resigned as auditors for Birla Global Finance Ltd.
Chartered accountant R S Lodha, who was bequeathed over Rs 5000 crore (Rs 50 billion) of assets of M P Birla group by the late Priyamvada Birla, is currently fighting a legal battle with the Birlas over the will.
