Auditors of Thiru Arooran Sugars resign

Chennai: In a rare event, the auditors of Thiru Arooran Sugars have resigned as statutory auditors of the company stating inability.

In a filing to stock exchanges, the company said that its board considered the resignation of Guru & Ram LLP, chartered accountants. The auditors were appointed for a five year term from 2017-18. “…..have submitted their resignation vide their letter dated February 4, stating that they are not in a position to undertake the Statutory Audit of the company,” the company informed the stock exchanges. The reasons for the resignation is not known. The auditors and the company management could not be reached for a comment. The company in its earnings statement released on Monday said its quarterly losses for December quarter were Rs 16.86 crore on revenues of Rs 4.44 crore.

The Monday statement did not have any reference to the resignation of auditors.