Auditor resignation, detailed reasons
Disclosure of an auditor's detailed resignation reasons to the stock exchanges within 24 hours of receiving them.
24 hours
Counted from receipt of the detailed reasons for resignation from the auditor
- SEBI
- SEBI events and governance
- Not specified
- 2026-09-01
Not later than 24 hours of receiving the reasons from the auditor. The clock starts on receipt of the reasons, not on the date of the resignation letter, so an auditor who resigns and sends the detailed reasons later starts the clock on the later date.
Deadlines counted from an event
Not later than 24 hours of receipt of the detailed reasons for resignation from the auditor, under Schedule III Part A Para A clause 7A. This is one of the events for which Schedule III states its own timeline, so the Reg 30(6) tiers do not apply to it.
The rule
Not later than 24 hours of receipt of the detailed reasons for resignation from the auditor, under Schedule III Part A Para A clause 7A. This is one of the events for which Schedule III states its own timeline, so the Reg 30(6) tiers do not apply to it.
Who must comply
- Every entity with specified securities listed on a recognised stock exchange
- The resignation of the statutory auditor of that entity
Statutory basis
Before you file
- Ask the auditor for the detailed reasons in writing.
- Record the date and time the reasons were received.
- Prepare the disclosure in the Industry Standards format for Reg 30.
How to file
- Receive the detailed reasons from the auditor.
- Record the date and time of receipt.
- Submit the disclosure to each exchange within 24 hours of that receipt.
- Publish the disclosure on the entity's website.
- Disclose the change of auditor separately under Schedule III Part A Para A clause 7.
Stock exchange electronic filing system
If you miss it
No per-day exchange fine is asserted here, because this provision is not on the fine table we have verified. SEBI adjudicates a late or missed disclosure under section 15A(b) of the SEBI Act, which reaches ₹1 lakh for each day the failure continues and is capped at ₹1 crore. Section 23E of the Securities Contracts (Regulation) Act is the other head, at not less than ₹5 lakh and up to ₹25 crore for a breach of listing conditions. Orders in this area normally land in lakhs rather than near the ceiling.
- The exchange records the default in the entity's compliance history, and a repeated default feeds SEBI's decision to adjudicate
- The disclosure still has to be made after the deadline passes, and it has to carry an explanation for the delay
- Disclosing favourable events on time while letting unfavourable ones slip is charged as a breach of Reg 4(1)(d) in its own right, alongside the specific provision
Recent changes affecting this
Relaxation from SEBI Master Circular for Minimum Public Shareholding Non-Compliance
Master Circular for compliance with the provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 by listed entities
Master Circular for listing obligations and disclosure requirements for Non-convertible Securities, Securitized Debt Instruments and/ or Commercial Paper
Common questions
Does the 24 hours run from the resignation or from the reasons?
From receipt of the detailed reasons. The resignation itself is a change of auditor and is disclosed under clause 7 on the Reg 30(6) tiers.