The Statutory Auditor of the Company has tender their resignation with effect from 07.08.2025
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AMS Polymers Ltd has informed BSE that M/s KVA & Company, Chartered Accountants (FRN: 017771C), has resigned as the company's Statutory Auditor effective August 7, 2025. The auditor was appointed on November 24, 2020 and was originally scheduled to serve until the conclusion of the 40th Annual General Meeting. The reason cited for the resignation is the expiry of KVA & Company's Peer Review Certificate issued by ICAI on June 30, 2025, with renewal still pending. As per SEBI regulations, only audit firms holding a valid peer review certificate can conduct audits of listed entities, making the auditor ineligible to continue. The auditor explicitly stated there are no other concerns and no disagreements with management, having submitted the latest limited review (Dec 2024 quarter) and audited results (FY25) before resigning.
This appears to be a routine, compliance-driven technical resignation rather than a governance red flag, since the auditor raised no concerns about management or financial statements. However, the company will need to appoint a new eligible statutory auditor promptly to avoid any disruption to its audit and review obligations. Shareholders should watch for the appointment of a replacement auditor with a valid peer review certificate in the coming weeks.