Outcome of Board Meeting held for the Appointment of Statutory Auditor of the Company
Awaiting price reaction for this filing.
AVI Polymers Ltd's board met on June 13, 2025 and approved the appointment of M/s. S.K. Bhavsar & Co., Chartered Accountants (FRN: 0145880W), as the new Statutory Auditor of the company. The new auditor is filling a casual vacancy caused by the resignation of the previous statutory auditor. S.K. Bhavsar & Co. is an Ahmedabad-based proprietorship firm with over 5 years of experience in accounting, taxation, and related matters. The board meeting lasted about 35 minutes, from 3:25 PM to 4:00 PM. The filing was signed by Managing Director Chintan Patel.
The earlier auditor's resignation mid-term is a mild negative signal for shareholders, as it can sometimes indicate accounting or governance concerns. However, the quick appointment of a replacement auditor helps ensure continuity of audit and regulatory compliance. Investors should watch for the former auditor's resignation reason and any qualifications in future audit reports.