Resignation of Jain Kedia and Sharma from the Post of Statutory Auditor of the Company
Awaiting price reaction for this filing.
AVI Polymers Ltd has accepted the resignation of its statutory auditor M/s Jain Kedia and Sharma, Chartered Accountants, effective 15th May 2025. The auditor cited 'change in management of the company' as the reason for being unable to continue. The auditor was originally appointed on 1st April 2019 with a term scheduled to expire on 31st March 2025, and submitted the FY25 audit report on the same day as their resignation. The board approved the resignation along with audited financial results for the quarter and year ended 31st March 2025 in its meeting held on 15th May 2025.
Auditor resignations citing 'change in management' often raise governance red flags for retail investors. Shareholders should watch for announcements on appointment of a new auditor and any further disclosures about the management change that triggered this exit.