Lodha quits as Birla Global auditor

Chartered accountancy firm Lodha & Co has resigned as a statutory auditor for Birla Global Finance.

Mumbai-based Suresh Surana & Associates has been appointed as auditors in place of Lodha.

Lodha & Co, Mumbai have resigned as statutory auditors, BGFL informed the stock exchange, Mumbai on Wednesday. Suresh Surana & Associates have been appointed as statutory auditors subject to shareholders' approval, it said.

The company would convene the extra-ordinary general meeting of shareholders shortly to seek their approval for appointment of new auditors, it added.

The late Priyamvada Birla of the MP Birla group, through her will, had passed on control of assets worth Rs 5,000 crore (Rs 50 billion) to R S Lodha.

Lodha is currently facing legal suits as Birla group has challenged Priyamwada Birla's will in a Kolkata court.