Tata Motors says auditor B S R resigned; Deloitte Haskins & Sells appointed

Tata Motors Limited said in a filing with the National Stock Exchange that its statutory auditor, B S R & Co. LLP, has resigned with effect from 30 October 2026, and that its board has appointed Deloitte Haskins & Sells LLP in its place from 31 October 2026. The appointment is subject to the approval of the company's members.

What Happened

According to the filing, the board of Tata Motors Limited, formerly TML Commercial Vehicles Limited, met on 31 October 2026 and took note of the resignation of B S R & Co. LLP. B S R & Co. LLP had been appointed at the company's first annual general meeting on 26 September 2025 for five years, until the conclusion of the sixth annual general meeting in 2030.

The company said in the filing that "there are neither any concerns raised by the resigning auditor with respect to the management of the Company nor any material reasons for the resignation other than those stated in the resignation letter."

The resignation letter, which the company filed, gives this reason. B S R & Co. LLP wrote that the company's acquisition of Iveco Group N.V. "is getting completed today" and that, after completion, Iveco is expected to become a subsidiary whose financial statements will be consolidated with the company's. The letter says that "for synergies and maintaining consistency in the audit process with the audit firm of Iveco and the statutory auditors of the Company, the Company has expressed its intention to align the auditors within the group". It adds that the resignation was "as mutually agreed with the Company".

The auditor's letter also says it had completed the audit of the standalone interim financial statements, and a limited review of the consolidated results, for the quarter ended 30 September 2026, and issued its reports on 23 October 2026. In its standard disclosure form, the auditor answered "not applicable" on concerns raised before resigning and on any information not provided, and gave "none" under other relevant facts.

The board approved the appointment of Deloitte Haskins & Sells LLP on the recommendation of the Audit Committee, to fill the casual vacancy. The new auditor will hold office until the conclusion of the third annual general meeting.

What It Means

An auditor's resignation is a disclosure the company must make to the exchange. Here, the filing and the auditor's letter both give the group's acquisition of Iveco Group N.V. and the wish to align auditors across the group as the reason, and neither reports a disagreement or a limitation on the audit. This report does not suggest any wrongdoing.

Shareholders of Tata Motors Limited will be asked to approve the new auditor, as the filing says the appointment is subject to members' approval. The filing does not give a date for that approval.

Oquilia Data: Tata Motors Ltd. (NSE: TMCV)

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Full record: Tata Motors share price on Oquilia

Source: Company filing on NSE