New Delhi: Moser Baer India Ltd (MBIL) has said that its statutory auditors, SR Batliboi & Co, have resigned.

MBIL said its board of directors has recommended the appointment of KC Khanna & Co as the new statutory auditors of the company.

KC Khanna & Co will now complete auditing of the 2002-03 financials of the company, subject to approval of shareholders. SR Batliboi had completed the half-yearly financials and has not completed the full-year audit.

The company has called an extraordinary general meeting on 29 August to seek the shareholders'' approvals.

A statement issued by MBIL on the development said: "There have been a number of reports, rumours and speculative statements that have been circulated in relation to the circumstances relating to the change of auditors of Moser Baer India. The company wishes to state for the record that all such speculative statements are false and baseless."