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Kirloskar Brothers Ltd calls for shareholders' meet on December 8 to consider, approve forensic audit

It follows requisition by Kirloskar Industries Ltd (KIL) along with Atul Kirloskar and Rahul Kirloskar, who together hold 24.92 per cent in Kirloskar Brothers Ltd (KBL).

November 17, 2022 / 10:30 AM IST
From left to right: Atul, Sanjay, and Rahul Kirloskar.

From left to right: Atul, Sanjay, and Rahul Kirloskar.

Kirloskar Brothers Ltd has called for an extraordinary general meeting of its shareholders on December 8, 2022 to consider and approve forensic audit of the affairs of the company by an external agency, according to a regulatory filing.

It follows requisition by Kirloskar Industries Ltd (KIL) along with Atul Kirloskar and Rahul Kirloskar, who together hold 24.92 per cent in Kirloskar Brothers Ltd (KBL).

Amid the simmering feud between Kirloskar siblings, with Kirloskar Brothers Ltd (KBL) Chairman and Managing Director Sanjay Kirloskar on one side and Atul and Rahul on the other, the company said the EGM would take up for resolution the appointment of an independent forensic auditor to investigate affairs of the company.

In a regulatory filing, KBL said the EGM (extraordinary general meeting) "at the requisition of Kirloskar Industries Ltd along with Atul Kirloskar and Rahul Kirloskar, collectively holding more than one-tenth of the paid-up share capital of the company" will be held on December 8, 2022 at 2 pm via video conferencing or other audio-visual means.