UPL Limited clarifies on auditors of UPL Corporation Limited, Mauritius

UPL Limited had announced the resignation of KPMG as auditors of UPL CORPORATION LIMITED with immediate effect.

The auditors viz. KPMG, Mauritius had in their letter to UPL Corporation Limited noted that there are no circumstances connected with its resignation which it considered should be brought to the notice of the members.

M/s. BSR & Co. LLP, Chartered Accountants, were appointed as Statutory Auditors of the Company for the period of five years at the AGM held on 8th July 2017, continue to remain the Statutory Auditors of the Company, including for the Consolidated Financial Statements of UPL Limited, India.

M/s. BSR & Co. LLP is a sub-licensee of KPMG in India.

In order to re-organize the Audit Process to improve Productivity, at the request of the Company, KPMG Mauritius has resigned as Statutory Auditors of UPL Corporation Limited, Mauritius. M/s. BSR & Co. LLP, Chartered Accountants, continues to carry out the audit of Group Consolidated Financials of UPL Ltd, India which includes UPL Corporation Ltd, Mauritius and its subsidiaries.

M/s. BSR & Co. LLP is a sub-licensee of KPMG in India.

Shares of UPL Limited was last trading in BSE at Rs.506.45 as compared to the previous close of Rs. 511.15. The total number of shares traded during the day was 173983 in over 6349 trades.

The stock hit an intraday high of Rs. 519.95 and intraday low of 503. The net turnover during the day was Rs. 89546812.

Source : Equity Bulls

Keywords