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The resignation letter said that the action was prompted by several significant issues and listed lack of required information, inadequate cooperation in providing essential information, absence of shareholder approval for appointment of auditors, and delay in quarterly reviews.
The auditor's letter also pointed out that the company has not filed the form with the MCA that informs the registrar about their appointment.
Brightcom Group's statutory auditors have resigned citing various reasons including "lack of required information" and "inadequate cooperation" from the company.
Through a letter dated August 6, the auditors DP Sarda & Co tendered their resignation, which was submitted by the company a day later through an exchange filing. The company also informed that it has appointed a new statutory auditor M/s Pradeep & Pradeep.
The resignation letter said that the action was prompted by several significant issues and listed lack of required information, inadequate cooperation in providing essential information, absence of shareholder approval for appointment of auditors, and delay in quarterly reviews.
The letter said, "We were not provided with necessary information and documentation to complete our client evaluation and review under the client acceptance section of the Standards on Quality Control (SQC) issued by the Institute of Chartered Accountants of India (ICAI). The management has not supplied adequate information and records, and we were not given sufficient time to address these issues. This has significantly impeded our ability to asses the client's acceptance and carry out our audit responsibilities effectively."
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