SEC Filing Summary: India Globalization Capital, Inc. (IGC Pharma, Inc.)
Business Context and Reporting Period
This Form 8-K Current Report was filed by India Globalization Capital, Inc. (also referenced as IGC Pharma, Inc.) on March 16, 2018. The report discloses a corporate governance decision regarding the company's independent public accounting firm.
Financial Metrics
The filing does not provide specific financial data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on the change in the registrant's certifying accountant.
Material Changes
Effective March 16, 2018, the Audit Committee of the Board of Directors dismissed AJSH & Co LLP ("AJSH") as the company's independent auditors. This decision followed five years of engagement with the firm and was made as a matter of good corporate governance. The reports issued by AJSH for the fiscal years ended March 31, 2013 through 2017 did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
Outlook, Risks, and Management Commentary
Management confirmed there were no disagreements with AJSH during the two most recent fiscal years or through the date of dismissal regarding accounting principles, financial statement disclosures, or audit scope. No events requiring reporting under Item 304(a)(1)(v) of Regulation S-K occurred. The company provided AJSH with a copy of this disclosure and received a letter from the firm indicating their agreement with the disclosures, which is attached as Exhibit 16.1.
Key Facts for Investor Verification
- The company changed its independent auditor after five years of service with AJSH & Co LLP.
- The dismissal was effective March 16, 2018, with no reported disagreements on accounting matters.
- Previous audit reports from AJSH were unqualified and did not contain adverse opinions.
- The filing does not contain updated financial statements or guidance for the current period.