AMS Polymers' Statutory Auditors Resign Due to Expired Peer Review Certificate

Ams Polymers Limited announced a significant change in its auditing arrangements as its statutory auditors, KVA & Company, Chartered Accountants, tendered their resignation effective August 7, 2025. The resignation comes in the wake of the expiry of the auditing firm's Peer Review Certificate on June 30, 2025, which is a mandatory requirement for conducting audits of listed entities.

Reasons for Resignation

KVA & Company, which had been serving as statutory auditors for Ams Polymers since November 24, 2020, cited regulatory compliance as the primary reason for their departure. The firm's Peer Review Certificate, issued by the Institute of Chartered Accountants of India (ICAI), is crucial for maintaining eligibility to audit listed companies. Despite the ongoing renewal process for their certificate, the auditors chose to resign to ensure full compliance with regulatory requirements and to avoid any potential non-compliance issues for Ams Polymers.

Impact on Audit Schedule

The resignation of KVA & Company comes at a critical time for Ams Polymers. The company had previously scheduled a board meeting for August 11, 2025, to consider and approve the unaudited financial results for the quarter ended June 30, 2025. However, due to these unforeseen circumstances, the company has rescheduled the board meeting to August 14, 2025.

Next Steps for Ams Polymers

Following this development, Ams Polymers is now tasked with appointing a new eligible auditor in accordance with the applicable provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company will need to ensure that the new auditors meet all the necessary qualifications, including holding a valid Peer Review Certificate.

Trading Window Closure

In light of the upcoming board meeting to discuss the quarterly results, Ams Polymers has announced that its trading window for dealing in company shares will remain closed until August 16, 2025. This closure applies to all Directors, Officers, and Designated Employees of the company, in compliance with the SEBI (Prohibition of Insider Trading) Regulations, 2015.

The resignation of the statutory auditors and the subsequent rescheduling of the board meeting highlight the importance of regulatory compliance in corporate governance. As Ams Polymers navigates this transition, investors and stakeholders will be keenly watching the company's next steps in appointing new auditors and releasing its quarterly financial results.