Johnson Controls - Hitachi Air Conditioning India Limited — Board Meeting, 24-07-2025: Outcome of Board Meeting

Johnson Controls-Hitachi Air Conditioning India Ltd's Board has accepted the resignation of its statutory auditors, Price Waterhouse & Co Chartered Accountants LLP. This decision, following the Audit Committee's input, is effective immediately. The auditors cited a potential conflict of interest due to the proposed acquisition of JCHAC's overseas parent by the Robert Bosch Group, as their network provides significant non-audit services to Bosch. Price Waterhouse confirmed they issued the financial statements for the year ended March 31, 2025, and the limited review report for the quarter ended June 30, 2025, prior to stepping down.