AVI Polymers Limited , a company listed on the Bombay Stock Exchange (BSE: 539288), has announced the resignation of its statutory auditor, SK Bhavsar Co., Chartered Accountants. The auditing firm's departure, effective October 30, 2025, comes less than two months into their five-year term, which was set to run from 2025-26.

Resignation Details

Key Points from the Resignation

• The auditor confirmed that no material concerns were raised regarding the company during their brief tenure.
• Full cooperation was provided by the management throughout the auditing process.
• The audit committee was duly informed of the resignation.
• The Board of Directors acknowledged the auditor's professional services and placed on record their appreciation for the same.

Regulatory Compliance

In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, AVI Polymers Limited promptly disclosed this development to the BSE. The company's Managing Director, Chintan Yashwantbhai Patel, signed the official communication to the stock exchange.

Auditor's Declaration

SK Bhavsar & Co. provided a detailed resignation letter, adhering to the format prescribed by SEBI's circular dated October 18, 2019. The firm explicitly stated that there were no other material reasons for their resignation beyond the cited professional commitments.

Impact and Next Steps

While the departure of a newly appointed auditor may raise questions among stakeholders, both the company and the auditing firm have emphasized the amicable nature of the separation. AVI Polymers Limited will now need to appoint a new statutory auditor to ensure continuity in its financial reporting and compliance processes.

Investors and stakeholders will likely watch closely for any further developments, including the appointment of a new auditor and any potential impact on the company's financial reporting timeline.

AVI Polymers , a prominent player in the fintech space, has unveiled two groundbreaking UPI features at the Global Fintech Fest 2025, aimed at enhancing user experience and addressing evolving consumer payment needs.

Reserve Pay: Revolutionizing E-commerce and Subscription Payments

AVI Polymers' first innovative feature, Reserve Pay, introduces a new level of flexibility and security in digital transactions. This feature allows users to:

• Block a fixed amount in their savings account or RuPay credit card for multiple future debits
• Ideal for e-commerce purchases, travel bookings, and subscription payments
• Funds are deducted only upon order completion

The primary benefits of Reserve Pay include:

1. Enhanced payment security for users
2. Reduced cash-on-delivery risks for merchants

EV Recharge via Bharat Connect: Simplifying Electric Vehicle Payments

The second feature, EV Recharge via Bharat Connect, caters to the growing electric vehicle market in India. Key aspects of this feature include:

• Direct top-up of charging wallets through the AVI Polymers app
• Utilizes the Bharat BillPay framework for real-time payments
• Supports payments across various charging networks

Phased Rollout and Availability

AVI Polymers is implementing a strategic rollout plan for these new features:

Executive Insight

Rajiv Naresh, Managing Director and CEO of AVI Polymers, emphasized that these new capabilities are part of the company's commitment to creating interoperable digital payment solutions that address the evolving needs of consumers.

As the fintech landscape continues to evolve, AVI Polymers' latest offerings demonstrate the company's focus on innovation and user-centric solutions. These features not only simplify payment processes but also contribute to the broader digital payment ecosystem in India.