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Infibeam Avenues to seek shareholders’ nod to remove SRBC & Co as joint auditor

12 Jul 2019 Evaluate

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of S.R.B.C & Co. LLP's (Auditor) services as one of the joint statutory auditors on grounds of alleged sharing of unpublished price-sensitive information (UPSI) - a charge that S.R.B.C. had refuted.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.

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