Zomato on Sunday said the auditor of its subsidiaries Zomato Hyperpure and Blink Commerce has resigned with immediate effect, paving the way for the food tech platform's auditor Deloitte Haskins & Sells to be appointed in its place to make the audit process more efficient.
Batliboi & Associates, who was appointed as statutory auditors of the two wholly-owned subsidiaries for five years beginning April 1, 2023, till the conclusion of the 13th AGM, resigned w.e.f. May 12, 2024, Zomato said in a regulatory filing.
"Further to our various discussions and email dated May 8, 2024, from the Global Controller Finance, Zomato Limited, we understand that the holding company's management wants to align the statutory auditor of the company with the auditors of the holding company responsible for the audit of consol accounts to avoid some duplication and bring some efficiencies in the audit process at group level," Batliboi & Associates stated.
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In the regulatory filing, Zomato informed that the reason for resignation is to allow for the appointment of the current statutory auditor of the company, Deloitte Haskins & Sells LLP, as the statutory auditor of Zomato Hyperpure Private Limited (ZHPL) and Blink Commerce Private Limited (BCPL) as well, to make the audit process more efficient.
The Zomato's board is slated to meet on Monday to consider and approve the results for the fourth quarter and financial year ended March 2024.
On an annual basis, the shares of the company have delivered a multibagger return of nearly 220 per cent on the National Stock Exchange.
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