AVI Polymers Limited has provided an update regarding the temporary suspension of trading in its shares, which resulted from an inadvertent misunderstanding during a physical verification visit conducted by Bombay Stock Exchange (BSE) officials at the Company's registered office address.
The suspension occurred because during the verification process, visiting BSE officials were mistakenly directed to another office located within the same building. Due to the similarity of office/gala numbers, the officials inspected a different premises that was not operational and unrelated to the Company. This misunderstanding led to an adverse observation being recorded, which subsequently resulted in the trading suspension.
Upon becoming aware of the matter, the Company immediately engaged with BSE authorities and provided comprehensive clarifications along with supporting documentary evidence. This evidence included proof of the registered office address, photographs, videos, and other relevant records demonstrating the existence and functioning of the Company's actual registered office.
BSE has acknowledged the Company's representations and supporting evidence. The matter is presently under review, and the process for rectification of records and revocation of the trading suspension is underway at BSE's end.
The management is actively coordinating with the Exchange and is committed to ensuring an expeditious resolution. The Company emphasizes that this issue arose solely due to a misunderstanding during the verification process and does not affect the Company's operations, business activities, or compliance commitments.
Shareholders are requested not to be concerned as the matter is being addressed with relevant authorities and is in the process of resolution. The Company will continue to keep shareholders informed of any material developments in accordance with applicable regulatory requirements.
The disclosure is signed by Chintan Yashwantbhai Patel, Managing Director (DIN: 10774473), and includes the Company's CIN (L20132JH1993PLCO0) and corporate office address in Jharkhand, India.