Infibeam Avenues will seek shareholders’ approval for the removal of EY-affiliate S.R.B.C & Co. LLP as one of its joint statutory auditors through a special resolution, in compliance with the order from the Corporate Affairs Ministry.
In May, the company’s board has recommended termination of S.R.B.C & Co. LLP's (Auditor) services as one of the joint statutory auditors on grounds of alleged sharing of unpublished price-sensitive information (UPSI) - a charge that S.R.B.C. had refuted. Last month, the Corporate Affairs Ministry had approved the company’s proposal.
Infibeam Avenues is engaged in providing online retail services.
